Attacks on Saudi infrastructure and potential Iranian restrictions in the Strait of Hormuz heighten risks to global oil supply.
Oil prices rose after Houthi forces struck Saudi Arabia’s Najran province, killing 11 civilians, amid escalating Middle East tensions. The attack underscores vulnerabilities in key oil-producing regions, adding upward pressure on crude markets.
Reports also emerged that Iran may ban U.S. and Israeli vessels from the Strait of Hormuz, a critical chokepoint for global oil shipments. Violators could face fines equal to 20% of their cargo’s value, further tightening supply risks.
Markets are monitoring the situation as geopolitical instability threatens to disrupt oil flows from the Persian Gulf.