Global oil prices have jumped sharply as the ongoing conflict between Israel and the US in Iran continues to destabilize energy markets, raising concerns about oil supply.

Brent crude, the international benchmark from the North Sea, rose 5.1% to $92.23 per barrel, while West Texas Intermediate (WTI), the main US benchmark, jumped 5.9% to $88.38 per barrel, The Caspian Post reports via foreign media.

Traders are reacting to fears that the intensifying conflict could disrupt exports from a region that remains crucial for global oil production and maritime shipping.