Global energy markets are reeling as Brent crude oil prices climbed back above $100 per barrel Thursday following Iranian strikes against commercial vessels in critical Middle Eastern shipping corridors.
The surge comes as Iran intensified attacks on merchant ships operating near the Strait of Hormuz and Iraq’s Basra port facility, part of an escalating conflict that has now entered its second week. American airstrikes against Iranian targets are continuing for the 13th consecutive day, while Israeli forces maintain operations against Iran and its Lebanese ally Hezbollah, creating a humanitarian crisis that has forced over 800,000 Lebanese residents from their homes.
Energy markets responded sharply to the latest developments, with oil prices jumping more than 9 percent as supply disruption fears intensified. U.S. benchmark crude also spiked, reaching approximately $95 per barrel amid the uncertainty.
In Kuwait, defense officials reported that an Iranian drone crashed into a residential structure Thursday, injuring two civilians in the small Gulf nation.
Maritime authorities documented another incident involving a container vessel operating near Dubai in the Persian Gulf. The British military’s United Kingdom Maritime Trade Operations center reported the ship came under fire just before sunrise Thursday.
“An ‘unknown projectile’ hit the vessel as it was some 65 kilometers (40 miles) off the coast of Dubai’s Jebel Ali port,” officials stated, adding that crew members remained unharmed despite a small fire breaking out.
The most significant disruption occurred at Iraq’s Basra port, where an early morning assault claimed at least one life and prompted authorities to suspend all oil terminal operations nationwide. Farhan al-Fartousi, who heads Iraq’s General Company for Ports, announced the shutdown following the deadly incident.
“The attack targeted ships in the ship-to-ship transfer area of the Basra port on the Persian Gulf,” al-Fartousi explained in a statement released through Iraq’s state news agency. “It remained unclear if the ship was targeted by a flying or seaborne drone or a missile.”
Emergency responders retrieved one fatality and assisted 38 other individuals following the attack. While commercial port operations continue, all oil terminals remain closed as a precautionary measure.
Iraqi officials have identified the affected tankers as the Marshall Islands-flagged Safesea Vishnu and the Malta-flagged vessel Zefyros.
