Renewed American military action against Iran and fresh threats from Israel have intensified concerns about potential disruptions to Middle East oil supplies, pushing international crude prices to their highest levels in six weeks on Thursday. At 10:25 GMT, Brent crude futures climbed $1.76, or 1.8%, to $97.39 a barrel, recovering from earlier losses, while US West Texas Intermediate (WTI) futures rose $1.91, or 2.1%, to $92.92 a barrel.

Both benchmark contracts have now posted gains for a fourth consecutive session, touching their highest levels in six weeks earlier in the trading day. According to Iran's health minister, American strikes late Tuesday on multiple targets within Iran killed 18 people and wounded 108 others. The Iranian Red Crescent reported that an attack near the coast of the Strait of Hormuz struck a wedding celebration, resulting in four deaths and 67 injuries.

This round of attacks marks the most significant exchange of fire between the US and Iran since July, with the conflict now entering its seventh month. Israeli Defense Minister Israel Katz has renewed his warning, stating that if Iran attacks Israel, the country will deliver a "heavy blow" to Iranian military and civilian infrastructure, including energy facilities.

Analysts point to Katz's remarks as a key driver behind the latest price surge. "The comments from Katz have contributed to the upward momentum in oil prices," said Ole Hansen, an analyst at Saxo Bank. Preliminary shipping data released Thursday showed six bulk commodity vessels transiting the Strait of Hormuz on Wednesday, down from 11 the previous day and well below the ten-day average of approximately 13 vessels.

Giovanni Staunovo, an energy analyst at UBS, noted that "the oil market's fundamentals remain tight, with global crude inventories continuing to decline, which supports higher prices. Persistent tensions in the Middle East are also providing additional support."

Meanwhile, Iran has expanded its list of non-compliant vessels, announcing that ships attempting to cross the strait could face fines, confiscation, or seizure. In a separate development, two Iraqi energy officials said Wednesday that Iraq's crude oil exports rose to roughly 2.34 million barrels per day in August, up from 1.35 million barrels per day in July. With steep discounts and Iran allowing Iraqi tankers passage through the Strait of Hormuz, buyer interest has strengthened, and Iraqi exports are expected to continue climbing in September.

In other broader markets, traders are positioning for a potential US Federal Reserve interest rate hike this month.