Iran conflict raises oil prices
The military escalation between the United States and Iran has caused oil prices to rise above $100 per barrel, the highest level since July 2026. The American military announced the destruction of 10 Iranian tankers over the past week, while Iran accused U.S. forces of targeting its oil tankers and responded by striking American military bases and facilities. Navigation in the Gulf and the Gulf of Oman has been disrupted, with tensions escalating risks, leading to expectations that oil prices could reach levels of up to $120 per barrel if the confrontation continues and oil transit through the Strait of Hormuz is halted.
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