(RTTNews) – Oil prices climbed on Wednesday as renewed tensions in the Gulf region fueled concerns about further disruptions to global energy supplies.
Brent crude futures soared 2.6 percent to $100.44 a barrel, reaching a near seven-week high after U.S. forces destroyed five Iranian tankers and Tehran responded with missile strikes on Jordan, raising fears of a wider regional conflict. WTI crude futures were up a little over 2 percent at $94.91 a barrel.
Iran has launched a barrage of missiles targeting U.S. military positions in Jordan and warned all tanker crews in Bahraini and Kuwaiti to “immediately abandon their vessels”, whether at anchor or at berth in ports, after the U.S. destroyed five Iranian tankers in the Gulf of Oman and near Kharg Island, a major crude export hub.
A U.S. official said the strikes came in response to alleged attempts by Iran to target a U.S. warship with ballistic missiles twice over two days.
Iran’s Revolutionary Guards reported capturing a U.S. unmanned submarine drone in the Strait of Hormuz, claiming the vessel was among the most advanced systems operated by the U.S. military. The U.S. military, however, disputed the significance of the incident.
Meanwhile, after Iran-backed Houthi militants attacked energy infrastructure in southern Saudi Arabia, a UN spokesperson called upon the parties to exercise restraint and prevent further escalation, warning that strikes on civilian and energy infrastructure undermine efforts towards a political solution.
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