Tensions have intensified due to fighting in certain waterways. This has led to a rise in oil prices. Brent crude reached a significant milestone, surpassing a certain price point for the first time since May.

The global oil benchmark and US crude saw notable increases on Thursday. However, they pulled back slightly after the initial surge.

For more information on the current situation and its impact on oil supplies, further details are available from the source, including the effects of the conflict on global oil prices.