Ankara: Oil prices climbed above US$85 a barrel on Tuesday, reaching their highest level in nearly a month as US strikes on Iranian military targets and disruptions to shipping through the Strait of Hormuz heightened supply concerns, Anadolu Ajansi reported.

According to Nam News Network, international benchmark Brent crude rose 2.4 per cent as of 0635GMT, extending its gains since the start of the week to more than 13 per cent. The US Central Command (CENTCOM) announced that its recent five-hour operation targeted military sites along Iran's southern coastline, including coastal defense systems, missile and drone facilities, and maritime capabilities.

The specific targets were located in Bushehr, Chah Bahar, Jask, Konarak, Abu Musa, and Bandar Abbas. CENTCOM stated that the strikes aimed to weaken Iran's ability to attack commercial shipping. US President Donald Trump declared that American forces were focused on Iran's military capabilities linked to the Strait of Hormuz. He also mentioned reinstating a blockade on Iran and vessels conducting business with Tehran.

Commercial traffic through the strait has slowed to a near halt amid the renewed strikes, security warnings, and growing uncertainty over the blockade. Trump further stated that Washington sought reimbursement from Gulf countries benefiting from US protection of the strait, including Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and Bahrain.

The escalation has intensified concerns over potential disruptions to oil and liquefied natural gas shipments through one of the world's most crucial energy transit routes.