Crude oil prices rose ₹119 to ₹9,171 per barrel in futures trade on Monday as escalating tensions in West Asia kept supply risks in focus, even as the United States explored ways to restore shipping through the Strait of Hormuz. 

On the Multi Commodity Exchange of India (MCX), crude oil for March delivery increased by ₹119, or 1.31%, to ₹9,171 per barrel in a business turnover of 12,745 lots.  The April contract also gained ₹164, or 1.83%, to ₹9,107 per barrel with a turnover of 12,898 lots on the exchange. 

In the international market, Brent crude futures for May delivery climbed $2.82, or 2.73%, to $105.96 per barrel. Meanwhile, West Texas Intermediate (WTI) crude for the May contract rose 2.36% to $99.13 per barrel in New York. 

Analysts said crude oil prices remained elevated amid persistent supply concerns as the ongoing conflict in West Asia disrupted oil flows through the Strait of Hormuz, a critical route for global energy shipments. 

The geopolitical situation remains tense following reports that the United States and Israel carried out fresh airstrikes on a key Iranian export terminal over the weekend. 

The Strait of Hormuz is widely regarded as the world’s most critical oil transit chokepoint, with a large share of global crude flows passing through the narrow channel.   

Almost all oil exports from major Gulf producers—including Saudi Arabia, Iraq, Kuwait, and the United Arab Emirates—move through this route before reaching international markets.   

The waterway, located between Iran and Oman, carries a significant portion of global oil trade. With tanker movements increasingly disrupted, fears of a potential supply shock have pushed crude prices higher.  

Because of its central role in global energy logistics, any disruption in the strait quickly affects worldwide oil supply and prices.  

Recent security risks and attacks on tankers have already prompted several shipping companies to avoid the route, leading to higher insurance premiums and delays in cargo shipments. 

Traders are now weighing the risk of further escalation against diplomatic efforts to stabilise shipping in the region. Analysts expect volatility in crude prices to persist as geopolitical tensions continue to dominate market sentiment.