Global oil prices jumped sharply after the United States launched fresh strikes on Iran, targeting a military facility in Bandar Abbas amid escalating tensions around the strategically vital Strait of Hormuz.
According to the US Central Command (Centcom), American forces also intercepted four Iranian drones that allegedly posed a threat near the critical shipping corridor, further intensifying fears over disruptions to global energy supplies.
Following the attacks, Brent crude, the international oil benchmark, surged 3.75 per cent to USD 97.83 per barrel, while US West Texas Intermediate crude climbed 4 per cent to USD 92.22.
The renewed hostilities come despite an ongoing ceasefire between Washington and Tehran and continued diplomatic negotiations aimed at ending the three-month-long conflict that has severely impacted shipping through the Strait of Hormuz.
The waterway, located between Iran and Oman, handles nearly one-fifth of the world’s oil and liquefied natural gas shipments, making it one of the most important energy transit routes globally.
Tensions in the region escalated after US and Israeli airstrikes on Iran in February, prompting Tehran to threaten vessels using the Strait of Hormuz. Since then, energy markets have witnessed extreme volatility, with Brent crude briefly touching USD 120 per barrel before easing on hopes of a diplomatic breakthrough.
However, optimism over a possible reopening of the Strait weakened after the latest strikes, which marked the second US military action against Iranian targets within three days.
Centcom said earlier operations targeted Iranian missile installations and vessels allegedly attempting to deploy naval mines in the strait, describing the actions as necessary “to protect our troops from threats posed by Iranian forces.”
Iran condemned the latest attacks as “a grave violation of the ceasefire” and warned that it “will not leave any act of hostility unanswered.”
Meanwhile, Kuwait’s military confirmed on Thursday that it had intercepted “hostile missile and drone threats,” although no additional details were provided.
