Crude oil prices surged sharply on Friday following reports that the United States launched a new series of airstrikes against targets in Iran.
The military escalation coincided with a significant expansion of the conflict's footprint, as Iran-backed Houthi rebels opened a second front by attacking Saudi tankers in the Red Sea.
The dual threat of direct military engagement with Iran and renewed attacks on commercial shipping has sent shockwaves through energy markets.
Brent crude and WTI futures climbed steeply as traders priced in the immediate risk of supply disruptions and the potential for a wider regional war.
The attack on Saudi tankers specifically heightened concerns over the security of key shipping lanes, adding a logistical premium to the geopolitical risk already embedded in prices.
This development marks a significant intensification of the ongoing conflict.