Oil prices surged more than 3% in Asian trade on Thursday as the Middle East war entered its sixth day with no sign of de-escalation, sparking heightened fears of supply disruptions from a region that accounts for roughly a fifth of global crude exports.

The conflict began last Friday when the U.S. and Israel launched coordinated strikes on Iran, triggering retaliatory attacks across the region and raising concerns about the security of critical energy infrastructure. Tensions escalated further this week after the U.S. sank an Iranian warship near Sri Lanka, highlighting the conflict's widening scope beyond the Persian Gulf.

Iran effectively closed the Strait of Hormuz, one of the world's most critical oil transit chokepoints, disrupting tanker traffic and fueling fears of severe crude export curtailments. This disruption has already impacted regional producers, with Iraq declaring force majeure on some exports due to the Strait's closure. However, U.S. inventory data showed a larger-than-expected build, though traders await confirmation from the EIA later Thursday.