Brent crude rose 2% to more than $90 per barrel on Monday, reaching the highest level since June 11 as escalating U.S. and Iranian attacks in the Strait of Hormuz limited oil shipments.

Brent futures climbed $2.09, or 2.37%, to $90.19 by 0241 GMT, extending a 15.9% gain for the week, the largest weekly increase since April. West Texas Intermediate rose 2.07% to $84.20, its highest price since June 12, and gained 15.5% over the past week.

The United States conducted its ninth consecutive night of strikes against Iranian targets, while Kuwait and Bahrain reported additional Iranian strikes. The Islamic Revolutionary Guard Corps said two oil tankers exploded and became immobilized after attempting to use a southern route through the Strait of Hormuz, alleging U.S. encouragement. Reuters could not independently verify the incident.

The Strait of Hormuz, which handles about one‑fifth of global oil trade, recorded four vessel transits on Sunday, down from eight the previous day, according to LSEG data. At least three oil product tankers and one very large crude carrier have entered the strait since Friday, the data showed. A vessel caught fire northwest of Oman’s Kumzar, the United Kingdom Maritime Trade Operations agency reported early Monday.

Analysts said the ongoing dual blockades could influence the sustainable level of oil exports from the region, with inventories currently at their tightest in five years. ING analysts noted that continued escalation could lead to wider attacks across the Gulf if the situation remains unresolved. Barclays analyst Amarpreet Singh said the coming weeks would clarify the export outlook under renewed blockades.

The trajectory of oil exports and market responses remains uncertain as the conflict continues.