Brent crude oil surged past $100 a barrel, driven by escalating military conflict in the Middle East that threatens vital shipping chokepoints in the Red Sea and the Strait of Hormuz, according to reports from The Guardian and The New York Times. The price spike follows renewed US airstrikes on Iranian military installations, Houthi claims of attacks on Saudi oil tankers, and the breakdown of a US-Iran memorandum of understanding.
Oil Prices Spike Above $100 as Houthi Blockade Threatens Red Sea Supply Routes
International benchmark Brent crude climbed past $100 a barrel for the first time in two months, according to reporting by The Guardian, as Middle East hostilities widened to target maritime trade. The price surge was catalyzed by claims from Yemen’s Houthi militia that they struck two Saudi Arabian oil tankers, the Encelia and the Layla, using ballistic and cruise missiles alongside drones. According to Saudi state media and maritime security sources cited by The New York Times, the Encelia sustained a fire on its bow during the incident near Jizan, though its crew remained safe.
US Central Command Launches 12th Consecutive Night of Airstrikes on Iran
US forces completed a 12th consecutive night of airstrikes targeting Iranian drone and missile storage facilities, air defenses, and maritime capabilities, according to announcements by US Central Command and reported by The New York Times. The military campaign follows the collapse of a ceasefire agreement between Washington and Tehran. In response, Iran’s Revolutionary Guard reported launching attacks on US military targets in Jordan and Kuwait, including a communications tower, according to state media coverage cited by The New York Times.
Iranian Foreign Ministry Condemns US Strikes and Alleges War Crimes
Baghaei specifically criticized US President Donald Trump’s threats to target Iranian power plants and bridges, asserting that such actions constitute illegal reprisals and collective punishment under international humanitarian law.
Did you know?
Dubai introduced the “Dubai Invite” scheme, offering families and friends of UAE residents benefits worth more than 3,000 dirhams (about €700) to visit, following a sharp decline in international passenger numbers and hotel occupancy rates after the city’s tourism sector was impacted by regional conflict.
Frequently Asked Questions
Why did oil prices rise above $100 a barrel?
Oil prices surpassed $100 a barrel due to escalating military conflicts in the Middle East, the breakdown of the US-Iran memorandum of understanding, and threats to vital shipping routes in both the Strait of Hormuz and the Red Sea following Houthi attacks on oil tankers.
What military actions has the United States taken against Iran?
According to US Central Command, the US military has carried out 12 consecutive nights of airstrikes targeting Iranian drone and missile storage sites, air defenses, and maritime capabilities in western and central Iran.
How have European and international bodies responded to the maritime threats?
EU foreign policy chief Kaja Kallas issued a statement condemning Houthi threats of a maritime blockade against Saudi Arabia as a dangerous escalation, reaffirming that the EU’s ASPIDES naval operation remains committed to protecting freedom of navigation.
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