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Global crude oil prices settled higher on Monday, 9 February, reversing early session losses as a fresh security advisory from the United States reignited concerns over supply security in the Middle East. The move prompted a swift injection of geopolitical risk premium, overshadowing tentative optimism regarding diplomatic channels between Washington and Tehran. 

Brent crude futures settled up $0.99, or 1.5%, at $69.04 per barrel. 

WTI crude settled up $0.81, or 1.3%, to $64.36 per barrel.

The rally was triggered by a bulletin from the US Department of Transportation’s Maritime Administration, which urged US-flagged vessels to "stay as far as possible" from Iranian territorial waters while transiting the Strait of Hormuz and Gulf of Oman. The agency cited historical risks of vessel boarding—referencing incidents as recent as 3 February—and advised ships to hug the Omani coast. This official warning underscored the fragility of the region's security architecture, reminding traders that nearly one-fifth of global oil consumption passes through this critical chokepoint.

Market participants noted that price action remains decoupled from traditional supply-demand mechanics, driven instead by headline sensitivity. Analysts observed that near-term trade will likely be dictated by the "injection and rejection of risk premium" rather than fundamentals. The bullish pivot erased earlier weakness caused by reports of positive discussions between US and Iranian diplomats, highlighting the market's nervousness after Iran’s Foreign Minister threatened strikes on US bases if provoked.

Written by: Aiman Haikal