Oil prices rose for a third consecutive day as tensions escalate between the US and Iran over control of the Strait of Hormuz, a critical chokepoint for global oil shipments. The failure of the two nations to resume peace talks has intensified uncertainty, with traders fearing potential disruptions to maritime trade routes. Iran’s military posturing in the region has raised concerns about supply stability, prompting analysts to warn of short-term volatility. The three-day gain in crude benchmarks reflects heightened risk premiums as markets brace for possible escalation. Geopolitical tensions in the Middle East underscore the fragility of energy markets, with stakeholders closely monitoring diplomatic developments for signs of de-escalation.