Oil remained near recent highs as tensions around the Strait of Hormuz reinforced fears of supply disruptions through one of the world’s most important crude transit routes. West Texas Intermediate traded above $84.50 a barrel, with WTI futures at $84.60, up 1.8% on the day, while Brent climbed above $87 as investors priced in a higher geopolitical risk premium. The Strait of Hormuz, between Oman and Iran, handles roughly 20% of global oil consumption and is a critical route for shipments from Saudi Arabia, Iraq, the UAE and other Gulf producers. Warnings from shipping and energy analysts about possible tanker delays or rerouting have added to market unease, although no major disruption has been confirmed. The move extends a market already supported by concern over Hormuz shipping risks, mixed U.S.-Iran signals and the UAE’s suspension of financial and economic transactions with Iran. Higher crude prices are also lifting energy shares and oil-linked currencies, while raising the risk of stronger fuel costs and added inflation pressure if the rally persists. Analysts cautioned that prices could retreat if tensions ease, especially with global inventories still seen as relatively comfortable.