Oil prices are rising amid prospects of further escalation in the US-Iran conflict.

With the prospect of further escalation of the US-Iran conflict, oil prices rose in early Asian trading, which could exacerbate disruptions in the supply of the Middle East region. President Trump threatened that if Iran attacks ships passing through the Strait of Hormuz, he will destroy Iran's infrastructure; the Strait of Hormuz is a key waterway through which one-fifth of global oil shipments pass. Trump wrote on Truth Social on Wednesday that every time Iran fires at ships in the strait, the US will "bomb and destroy a bridge or power plant," including infrastructure in or near Tehran. In recent months, West Texas Intermediate crude oil futures rose 1.1% to $87.82 per barrel.