Oil prices surged by nearly 6% on Thursday amid escalating tensions in the Middle East, following U.S. President Donald Trump’s pledge to continue military operations against Iran.

Brent crude rose to $107 per barrel, up 5.7%, while U.S. West Texas Intermediate (WTI) reached $105, marking a 5% increase as of 05:30 GMT.

The rise is driven by growing concerns over supply disruptions, particularly due to threats to energy shipments passing through the Strait of Hormuz, a critical global oil transit route.

In a televised address early Thursday, Trump said military operations against Iran would continue “over the next two to three weeks,” claiming that key strategic objectives of the campaign are “close to being achieved.”

He added that the operation, which he referred to as “Epic Rage,” will persist until all military objectives are met, with U.S. forces continuing intensified strikes on Iran in the coming weeks.