Pakistan, June 11 -- Global oil prices climbed sharply on Thursday after tensions between the United States and Iran intensified, raising fresh concerns about energy supplies from the Middle East. Investors reacted to reports of further military escalation and growing uncertainty surrounding one of the world's most important oil transportation routes.

Brent crude rose by $1.48 to reach $94.58 per barrel, while US West Texas Intermediate crude gained $1.71 to trade at $91.74 per barrel. Earlier in the session, US crude futures jumped by more than $3 as traders responded to fears of prolonged disruptions in global energy flows.

The market received another shock after Iran announced the closure of the Strait of Hormuz, a critical maritime ...