Brent Nears $100 as Gulf Attacks Escalate Supply Concerns

Global oil markets moved higher as escalating tensions in the Middle East heightened fears of supply disruptions. Brent crude, the international benchmark, traded just below $100 per barrel after a series of attacks on commercial vessels in the Persian Gulf intensified concerns about the security of energy shipments.

The conflict involving Iran and U.S.–Israeli forces has increasingly threatened traffic through the Strait of Hormuz, a critical chokepoint for global energy trade. Roughly one‑fifth of the world’s seaborne oil supply passes through the narrow waterway, and recent strikes on tankers and maritime infrastructure have significantly reduced shipping activity in the region.

In addition, attacks near Iraq’s Basra export facilities forced authorities to halt operations at some oil terminals, further tightening supply expectations in an already volatile market. The escalating risks have pushed traders to price in a larger geopolitical premium, sending Brent briefly above the $100 mark earlier this week.

Efforts to stabilize the market through emergency stock releases coordinated by the International Energy Agency have so far failed to fully offset supply fears. Analysts warn that unless tensions ease and shipping routes reopen safely, oil prices could remain highly volatile and continue to test the $100 threshold in the near term.