Oil prices continued to rise, trading near their highest levels in six weeks on Wednesday, as concerns grew over disruptions to supply routes in the Middle East due to the escalating war between the United States and Iran.

Brent crude futures rose 3.2% to $93.91 a barrel by 02:58 GMT. US West Texas Intermediate crude climbed 3.13% to $86.96 a barrel.

Both benchmarks touched their highest since June 11. The Brent crude futures spread between the front-month and the contract three months later widened to $10.89 a barrel, the highest since May 22, reflecting a deepening backwardation—where spot prices trade at a premium to futures, typically seen as a sign of near-term supply tightness.

The US military announced it had carried out attacks on Iran for the eleventh consecutive night. These mutual attacks have raised fears of further disruptions to global energy supplies.

President Donald Trump said on Wednesday that the United States will bomb and destroy a bridge or a power plant any time Tehran targets a ship in the Strait of Hormuz.

Tim Waterer, chief market analyst at KCM Trade, said according to Reuters: 'The energy market is now facing concerns over two straits, as the Bab el-Mandeb Strait seems to be joining the Strait of Hormuz as a flashpoint, with traders closely monitoring shipping movements in the Red Sea.'