Crude oil climbed more than 3% to nearly $81 per barrel on Tuesday, reaching its highest level in almost a month after the collapse of the US-Iran truce reignited concerns over supply disruptions.
The rally followed a 9.4% surge in the previous session as fresh attacks targeted shipping in the Strait of Hormuz.
The United Arab Emirates said two of its tankers were struck while transiting the waterway, highlighting growing risks to one of the world's busiest energy routes.
The attacks came after the US resumed its blockade on Iranian oil exports, launched new strikes against Iran, and proposed charging vessels protected by the US Navy.
Supply concerns also intensified as Saudi Arabia intercepted missiles launched by Yemen's Houthis, while Washington backed tougher sanctions on Russian energy exports.
The renewed escalation has raised fears of prolonged disruptions to global oil supplies and higher geopolitical risk premiums.