Oil prices continued to climb in early Asian trade on Wednesday as the renewed hostilities between the United States and Iran showed no signs of slowing. 

At the time of writing, Brent crude was trading at $92.44, up 1.57% on the session, while West Texas Intermediate was changing hands at $85.51, up 1.39%. Both benchmarks are now at five-week highs and have been consistently climbing since hitting lows during the July 4th weekend.

The latest move higher was driven by another night of U.S. military operations against Iranian targets, marking the 11th consecutive evening of strikes. According to U.S. Central Command (CENTCOM), American forces targeted “Iranian military operations centers, maritime assets, aircraft hangars, drone storage facilities and logistics infrastructure” in an effort to degrade Iran’s ability to threaten commercial shipping.

CENTCOM claims Iran has attacked more than 30 commercial vessels over the past three months, but insists that the waterway remains open to commercial traffic. For oil markets, and more importantly for shipping insurers, U.S. claims that the Strait is open are less relevant than a pledge from Iran that it will stop attacking ships.

The most recent U.S. attacks came after Kuwait intercepted Iranian drones in what was the latest in a spree of Iranian strikes against U.S. allies in the region.