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Ulviyya Poladova

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A new wave of geopolitical tensions in the Middle East has once again shaken global energy markets, AzerNEWS reports.

U.S. President Donald Trump has warned of new large-scale military action against Iran, an oil tanker was struck by a missile in the Strait of Hormuz, and Iran reportedly carried out a large-scale drone attack targeting Kuwait. Together, these events have increased concerns over the security of one of the world's most strategically important energy corridors.

The market reacted immediately. Brent crude climbed to around $92.12 per barrel, while WTI rose to $84.61. Azerbaijan's flagship Azeri Light crude reached the $100-per-barrel.

The Middle East remains the world's most important oil-producing region, and any threat to production or transportation quickly affects international prices. Even when actual oil output remains unchanged, fears that supplies could be disrupted are often enough to push traders to bid prices higher.

Another factor contributing to the rise in oil prices is the military activity carried out by Yemen's Houthi movement in the Red Sea. Because of security concerns in the Persian Gulf and the Strait of Hormuz, Saudi Arabia and several other Middle Eastern producers have increasingly relied, at least in part, on the Red Sea to export oil. However, Iran-aligned Houthi forces have stepped up attacks on ports and commercial vessels operating along that route, creating additional risks for global energy supplies.

If tensions between Washington and Tehran continue to escalate without a diplomatic breakthrough, analysts expect oil prices to remain under upward pressure.

The impact is particularly severe for countries that rely heavily on imported oil. Europe and North America are already seeing increases in the prices of gasoline, diesel, electricity, and natural gas.

It remains unclear when the parties might return to negotiations and reach a peaceful settlement. For now, oil prices continue to rise, and only time will tell when the upward trend will come to an end.

Image: Alexander Manzyuk / Reuters