Oil prices rose to their highest level since January 2025 on Monday as joint U.S.-Israeli strikes on Iran and Tehran’s retaliatory attacks heightened fears of supply disruptions.

Brent crude climbed about 8.5% to $79.19 a barrel as of 0856 GMT, while U.S. West Texas Intermediate (WTI) gained 8.1% to $72.60.

The gains came amid mounting security risks in the Strait of Hormuz, a key global oil shipping route, following U.S.-Israeli airstrikes on Iran.

Reports said oil tanker traffic through the strait had come to a halt, with more than 700 vessels backed up on both sides of the waterway.