Oil prices surged past $100 per barrel as escalating Iranian attacks on commercial shipping raised fears of a major disruption to global energy supplies. The spike comes as tankers and cargo vessels in and around the Strait of Hormuz face increasing security threats, forcing shipping companies to slow or halt traffic.
The Strait of Hormuz is one of the most critical energy chokepoints in the world, carrying roughly 20% of global oil shipments every day. Analysts say even limited attacks in the region can trigger sharp market reactions because the waterway is essential for exports from Gulf producers like Saudi Arabia, Iraq, and the United Arab Emirates.
