Oil prices climbed more than 1% on Wednesday as geopolitical risks to global energy supplies intensified.
The move followed reports that Iran has instructed Yemen’s Houthi rebels to stand ready to close the Red Sea shipping route, adding a new layer of uncertainty to already fragile trade corridors in the Middle East.
Brent crude futures advanced in the session, reflecting investor anxiety over potential disruptions to oil flows.
The Strait of Hormuz and the Red Sea remain critical chokepoints for global energy trade, and any threat to their openness immediately impacts supply expectations.
Markets are pricing in the risk of further shipping interruptions as the conflict between Iran and regional actors deepens.
This development marks a significant escalation from previous threats.