Oil prices reached a three-week high on Thursday, with Brent crude rising over 2% to 93 dollars and 81 cents per barrel. The rally is driven by persistent geopolitical tensions in the Middle East and concerns over supply disruptions, particularly following the United Arab Emirates’ suspension of transactions with Iran. Analysts suggest the market remains sensitive to the ongoing conflict near the Strait of Hormuz, maintaining a gradual upward trend as global oil flows remain constrained.