Oil prices have risen for three consecutive days amid concerns about supply due to escalating Middle East conflicts.

Oil prices have risen for the third consecutive trading day due to signs of escalating conflict in the Middle East, heightening market concerns that the region's energy supply recovery could face further obstacles. According to a U.S. official, the U.S. Department of Defense may deploy an additional aircraft carrier and 10 thousand sailors and Marines to the Persian Gulf, providing Trump with more options to escalate military action against Iran. This escalation in tensions comes as the market had just begun to ease worries about Middle Eastern energy supplies. Earlier this week, Wall Street analysts noted that crude oil supplies in the region are nearing pre-war levels, but refined oil products have yet to recover to the same extent. The latest indications show that the U.S. Navy blockade is cutting off Iran's access to energy markets: Iran appears not to have loaded any crude oil onto tankers in September. This week, oil futures prices have fluctuated sharply as traders weigh improvements in Middle Eastern oil supplies against the risk of further conflict escalation. With the U.S.-Iran war entering its eighth month and little diplomatic progress, Brent crude oil has still risen by about 70% so far this year.