Brent crude rose toward $112 a barrel on Thursday, approaching the four-year high of $114.44 reached on May 4, as concerns grew over a potential escalation of the Middle East conflict and renewed US strikes against Iran. Reports indicate that US and Israeli militaries have developed plans for a short, intensive operation following next month’s midterm elections. Washington has also ordered non-emergency government employees and their families to leave Saudi Arabia, citing increasing attacks by Iran-aligned Houthi forces. Regional security concerns intensified after deadly strikes targeted Saudi facilities, including a drone attack on the Shaybah oilfield. Despite mounting tensions, crude exports through the Strait of Hormuz have increased toward pre-conflict levels, with some tankers reportedly switching off their tracking systems to avoid detection. Nevertheless, shipments of refined oil products remain constrained, sustaining concerns over global energy supplies.