Oil prices surged past the $105 threshold on Friday as an escalating maritime standoff between Iran and the United States in the Strait of Hormuz rattled global energy markets.

Benchmark Brent crude rose 64 cents to $105.70 a barrel, while West Texas Intermediate gained 33 cents to $96.16, extending gains of more than 3% in the previous session.

The rally comes amid a sharp deterioration in security across the vital shipping corridor, after Iran’s Revolutionary Guard seized multiple commercial vessels and fired on others in recent days, raising alarm over the safety of tanker traffic.

At the same time, the US Navy has intensified enforcement of its blockade, including the seizure of an Iranian-linked cargo ship accused of attempting to breach restrictions near Hormuz—further escalating tensions at sea. US forces have now redirected 33 vessels since the start of the blockade against Iran, said US Central Command.

The actions have effectively turned the narrow waterway—through which around a fifth of global oil supplies normally pass—into a high-risk zone. Analysts say the price surge reflects a growing geopolitical risk premium, as traders factor in the possibility of prolonged disruption or even a partial blockade of Hormuz. Even temporary interruptions in flows from Gulf producers can sideline millions of barrels from the market, tightening supply almost instantly.