Oil Prices Surge as Israel Strikes Iran

Global oil markets surged on Friday following reports that Israel had launched military strikes against Iran, sparking renewed fears of instability in the Middle East and potential disruption to global energy supplies.

Benchmark crude prices reacted sharply to the development. Brent Crude and Nymex Light Sweet Crude both climbed by over 10% in early trading as news of the Israeli action broke. Traders and analysts are closely monitoring the situation, concerned that further escalation could impact oil flows from one of the world’s most energy-critical regions.

Market experts say any military confrontation between Iran and Israel carries the risk of affecting the wider region, particularly if it leads to threats against major infrastructure or strategic transport routes. Among the top concerns is the Strait of Hormuz, a narrow waterway that handles approximately 20% of the world’s oil supply.

“If Iran were to respond by targeting tankers or oil infrastructure near the Strait, it could cut off millions of barrels per day from the global market,” said one energy analyst. The strait, flanked by Iran to the north and Oman and the UAE to the south, remains one of the most strategically sensitive passages in global shipping.

Energy consultant Vandana Hari, speaking to international media, warned of the uncertainty ahead: “It’s an explosive situation. It may de-escalate quickly, as we’ve seen before, or it could spiral into a broader conflict that severely disrupts Middle East oil output.”

Dozens of oil tankers currently navigate the waters near the Strait of Hormuz, making the region a flashpoint for potential disruptions. Any prolonged instability could have global economic consequences, with rising crude costs affecting everything from shipping and aviation to consumer goods and fuel prices at the pump.

Saul Kavonic, head of energy research at MST Financial, noted, “What we’re seeing now is an initial risk-driven reaction. Over the next day or two, the market will try to assess just how far this conflict could go.”