Crude oil prices continued to rise as investors reacted to the ongoing escalation between the United States and Iran, amid fears of potential supply disruptions.

The price of Brent crude rose to $88.7 per barrel. Trading volume over the past 24 hours reached $59 million, according to data from the 'Hyper Liquid' perpetual futures platform.

Oil Supplies

West Texas Intermediate (WTI) crude climbed to $83.62 per barrel, with trading volume increasing to $111.2 million.

The gains came as geopolitical tensions in the region continued, as markets monitored the movement of oil supplies through key maritime corridors.

According to the data, 444 shipments crossed during the past 24 hours, while investors continued to follow developments in the region and their potential impact on energy markets.

Escalating Tensions

These developments come amid an unprecedented escalation of confrontation between the United States and Iran during July, after the temporary truce that both sides had reached last month collapsed.

U.S. President Donald Trump ordered the renewal of airstrikes against Iranian military targets, aiming to undermine the capabilities that Tehran uses to target shipping in the Strait of Hormuz, while Iran responded with a series of missile and drone attacks targeting U.S. bases in the Gulf, asserting that it would continue to retaliate if U.S. attacks persisted.

Crude oil prices continued to rise as investors reacted to the ongoing escalation between the United States and Iran, amid fears of potential supply disruptions.

The price of Brent crude rose to $88.7 per barrel. The trading volume over the past 24 hours reached $59 million, according to data from the "Hyper Liquid" perpetual futures platform.

Oil Supplies

West Texas Intermediate (WTI) crude climbed to $83.62 per barrel, with trading volume increasing to $111.2 million.

The gains came as geopolitical tensions in the region continued, while markets monitored the movement of oil supplies through key maritime corridors.

According to the data, 444 shipments crossed during the past 24 hours, while investors continued to follow developments in the region and their potential impact on energy markets.

Escalating Tensions

These developments come amid an unprecedented escalation of confrontation between the United States and Iran during July, after a temporary truce that both sides had reached last month collapsed.

U.S. President Donald Trump ordered the renewal of airstrikes against Iranian military targets, aiming to undermine the capabilities that Tehran uses to target shipping in the Strait of Hormuz, while Iran responded with a series of missile and drone attacks targeting U.S. bases in the Gulf, asserting that it would continue to retaliate if U.S. attacks persisted.