Oil prices surged during Asian trading on renewed geopolitical tensions in the Middle East after Iran launched attacks on U.S. forces, prompting retaliatory strikes by the United States and Saudi Arabia on Iran-backed targets in Iraq.

International benchmark Brent crude futures for September delivery climbed 3.42 per cent to $86.97 per barrel, while U.S. West Texas Intermediate crude futures rose 3.58 per cent to $82.09 a barrel.

According to the U.S. Central Command, Iran’s Islamic Revolutionary Guard Corps launched multiple ballistic missiles in what it described as a surprise attack targeting U.S. forces stationed across the Middle East.

In response, U.S. and Saudi forces carried out strikes on multiple logistics and weapons facilities used by Iran-backed militant groups in eastern Iraq on Tuesday.

CENTCOM said the operation was launched after more than 30 drone attacks by Iran-aligned militants against U.S. forces over the previous three days.

Separately, the U.K. Maritime Trade Operations Centre reported suspicious activity in the Red Sea, saying the captain of a tanker heard an explosion while transiting the southern part of the waterway.

The agency disclosed the incident in an advisory issued on Tuesday, noting that the explosion was reported to have occurred on Monday. No further details were provided.