Oil prices steadied near their strongest closing level in five weeks, following fresh hostilities between the United States and Iran that once again put Middle East energy exports at risk.

West Texas Intermediate (WTI) edged higher, settling above $90 per barrel for a third straight session, while Brent crude closed above $95 per barrel for the first time since late July.

The latest escalation came after U.S. forces launched a new round of airstrikes on Iran overnight, with President Trump warning of further strikes should Tehran retaliate. Hours later, Iran responded with attacks on Jordan, Bahrain, and Kuwait, all nations hosting American military personnel.

The renewed conflict has again placed shipments through the strategic Strait of Hormuz under threat, raising concerns over the security of a key global energy chokepoint.

"The market is clearly pricing in the risk of a direct military confrontation between the U.S. and Iran, while the prospect of a negotiated resolution appears to be fading," said Arne Lohmann Rasmussen, chief analyst at Copenhagen-based Global Risk Management.

Additional support came from U.S. Energy Information Administration data showing refinery crude throughput at its highest level in seven years. Meanwhile, weekly gasoline imports fell to 370,000 barrels per day, below volumes recorded in the same period of 2020.

WTI for October delivery rose 0.9% to settle at $91.01 per barrel, while November Brent gained 1% to close at $95.63.