Oil Prices Surge as Iran Threatens Global Energy Corridors

The latest escalation marks the fourth consecutive day of gains, pushing oil prices up roughly 12% since last Friday. Brent Crude climbed 0.83% in early European trading, while WTI Crude hovered above $80 following an 0.89% increase. The uptick follows a rapid shift in the Strait of Hormuz, where tanker traffic has dwindled to a trickle after the U.S. reinstated a naval blockade in response to Iranian strikes on commercial vessels.

Tehran’s rhetoric suggests a broader campaign to disrupt global energy security. Through the IRNA state news agency, the Islamic Revolution Guards Corps issued a blunt warning: "Regional energy exports are either shared by all, or denied to all." Analysts warn that this strategy could extend to the Bab el-Mandeb Strait, a critical maritime link between the Red Sea and the Gulf of Aden. Iranian media reports indicate that Houthi forces in Yemen stand ready to blockade this passage if Saudi military operations in the region persist, effectively targeting the Yanbu crude export terminal.