The fragile ceasefire between the United States and Iran faces a severe test following confirmed military strikes on targets in Tehran and reports of blocked Iranian oil sales.
The escalation marks a sharp deterioration in the diplomatic standoff, raising immediate concerns about the stability of global energy supply chains.
Brent crude prices reacted sharply to the news, as traders repriced the risk of renewed disruptions in the Strait of Hormuz.
The market move reflects growing anxiety that military action could lead to broader regional conflict, potentially constraining the flow of oil from the Persian Gulf.
Energy equities also saw volatility, with investors weighing the immediate supply shock against longer-term geopolitical uncertainties.
This development follows weeks of heightened tension, including Iran’s warnings to oil tankers to use approved routes in the Strait of Hormuz or face forceful responses.