International oil prices rose sharply after the United States decided to extend sanctions on Iran’s ports, raising concerns about prolonged supply disruptions from the Middle East’s key energy-producing region. According to the Wall Street Journal, Brent crude prices climbed 3 percent on Wednesday, reaching their highest level in a month.

The report said President Donald Trump instructed his aides on Tuesday to prepare for extending the sanctions, aiming to maintain pressure on Iran’s economy and oil exports by keeping its ports closed to shipping. Despite a temporary ceasefire between Iran and the U.S.-Israel alliance, the conflict remains unresolved. Brent crude futures for June rose by $3.33, or 3 percent, to $114.59 per barrel, while July contracts increased 2.9 percent to $107.43. U.S. West Texas Intermediate futures for June climbed 3.6 percent to $103.48 per barrel, the highest since April 13.

Analysts noted that the Hormuz Strait blockade is the main driver of the price surge. Investors are also assessing the impact of the United Arab Emirates’ sudden exit from OPEC, though experts expect limited short-term effects.