As geopolitical risks mount in global energy markets, oil prices have surged sharply. Brent crude rose above $96 per barrel, reaching its highest level in a month and a half.
US President Trump Threatens Iran's Infrastructure
US President Donald Trump announced that Washington would target Iran's infrastructure if Iran attacks ships passing through the Strait of Hormuz. Iran, in turn, signaled it could retaliate against energy assets linked to the US. These tit-for-tat statements further escalated tensions in the Strait of Hormuz, through which a significant portion of global oil trade passes.
Attacks on Oil Tankers in the Red Sea
Another event that heightened tensions occurred in the Red Sea. Iran-backed Houthis attacked two Saudi oil tankers with missiles and drones. These attacks were recorded as the first to directly target oil tankers in the Red Sea. Security concerns grew in the Red Sea, a critical alternative route for Saudi Arabia's oil exports.
Threat to Global Energy Supply
Experts say the growing security risks in the Strait of Hormuz and the Red Sea pose a serious threat to global energy supply. It is assessed that new attacks or developments that could disrupt shipments in the region may increase upward pressure on oil prices.
Diplomatic Solution Unlikely
As US forces continued operations against Iran for the 12th day, Washington and Tehran kept expectations low for peace talks. Statements from the sides indicate that the prospect of a diplomatic solution in the short term is weak. Expectations have strengthened in markets that geopolitical risks will remain elevated.
