Brent oil exceeded 108 dollars per barrel after two events that heightened geopolitical tensions in the Middle East. An attack on a merchant ship in the Strait of Hormuz resulted in the death of a crew member, while Saudi Arabia decided to close the pipeline that bypasses this strategic shipping route.
The attack in the Strait of Hormuz, one of the world's most important oil shipping routes, immediately triggered a reaction in international energy markets. The death of the crew member highlighted the growing risk to commercial navigation in the region.
In parallel, Riyadh announced the closure of the pipeline that allows bypassing the Strait of Hormuz, which intensified fears regarding the region's crude supply routes. This decision reinforces the vulnerability of global oil supply.
These two combined incidents have rekindled concerns about energy security in the Middle East, causing a significant rise in oil prices in international markets.
