Brent oil prices surged above 100 dollars per barrel amid heightened tensions between the United States and Iran. This significant increase comes as a direct consequence of the military escalation between the two countries.
US forces destroyed five Iranian oil tankers in an attack that further strained bilateral relations. In retaliation, Tehran launched missiles at Jordan, raising the conflict to a new dimension.
This escalation represents the latest chapter in a conflict that has been dragging on for several months. The Strait of Hormuz, one of the most important waterways for global oil traffic, has remained closed since February, which has contributed to instability in global energy markets.
