image sourced from original article at Global oil prices climbed on Friday as renewed tensions involving Iran heightened fears of supply disruptions in the Middle East. Brent crude rose above $106 per barrel, while West Texas Intermediate also posted gains, extending sharp increases from the previous session as geopolitical risks intensified.
Investor concerns deepened after Iran released footage showing commandos boarding a cargo ship in the Strait of Hormuz and reported engaging hostile targets over Tehran. The Strait of Hormuz is a critical transit route for roughly 20 percent of global oil and gas supplies, raising alarms about potential disruptions.
The President of the United States said Iran may have strengthened its military capabilities during the ceasefire period but stated that American forces could neutralize the threat quickly. Analysts warned that if tensions persist or diplomatic efforts stall, global oil inventories could fall below seasonal averages, adding further upward pressure on prices.
Although Israel and Lebanon agreed to extend their ceasefire, broader regional instability and uncertain negotiations continue to keep energy markets volatile, with traders closely monitoring military activity and diplomatic developments.
