Global oil prices have remained above $100 per barrel as energy markets face significant uncertainty due to the war between the United States, Israel, and Iran.
Brent crude, the international benchmark, rose by more than 9 percent to around $101 per barrel, as investors brace for possible weeks or even months of turmoil in energy markets.
The price increase is mainly linked to the situation in the Strait of Hormuz, one of the most important oil transportation routes in the world, through which about one-fifth of the global supply passes. Iran’s Supreme Leader, Mojtaba Khamenei, has warned that pressure on maritime traffic in this strait will continue as part of Tehran’s wartime strategy.
According to the UK Maritime Trade Operations center, traffic through this maritime corridor has almost come to a halt. Currently, no more than five ships pass through per day, compared to about 138 daily crossings before the conflict began on February 28.
Since the start of the war, at least 16 commercial ships have been attacked in the region, with several reportedly struck directly by Iranian forces.
Efforts to stabilize the market have so far had limited impact. The International Energy Agency has announced the release of 400 million barrels of oil from emergency reserves, while the United States has temporarily allowed the purchase of Russian oil that was already at sea. However, prices remain around 40 percent higher than before the war began.
