Oil prices surged to $100 a barrel on Wednesday for the first time since July as escalating military attacks involving the United States, Iran, Saudi Arabia and Yemen raised fresh fears over energy supplies from the Gulf.
Brent crude, the global oil benchmark, climbed 2.83% to $100.70 a barrel by Wednesday afternoon, its highest level since late July.
The latest surge followed a new round of attacks on oil tankers and military targets across the Gulf region, alongside renewed strikes between Saudi Arabia and Iran-backed Houthi forces in Yemen.
The developments have heightened concerns about the security of one of the world’s most important energy corridors, the Strait of Hormuz, through which about 20% of global oil and liquefied natural gas shipments normally pass.
Before the current US-Israel war with Iran began in February, Brent crude was trading at around $70 a barrel.
The US military said it destroyed five Iranian oil tankers in separate operations after Iran targeted an American warship.
US Central Command (Centcom) said four tankers — Kaviz, Charminar, Horizon 1 and Riesco — were destroyed in the Gulf of Oman, while a fifth, Derya, was struck near Kharg Island, home to Iran’s main oil export terminal.
Centcom said the vessels were linked to Iran’s Islamic Revolutionary Guard Corps (IRGC) and that crews had been directed to abandon the ships before they were attacked.
The US military said the strikes followed two Iranian ballistic missile attacks on a US warship in the region. The vessel successfully evaded the missiles and no American personnel were injured, according to Centcom.
Iran’s Revolutionary Guards, however, said its forces had attacked eight oil tankers and two US Navy destroyers in the Strait of Hormuz.
Centcom rejected the claim that two US warships had been hit.
Iran also said it had launched missiles against US facilities at Muwaffaq Salti Air Base in Jordan. Jordan’s military said it intercepted 20 Iranian missiles, while two others landed in unpopulated areas. No casualties were reported.
The escalating confrontation has raised concerns that shipping through the Gulf could face further disruption.
Iranian Revolutionary Guards spokesman Hossein Mohebi said the country would soon publish coordinates for a new “prohibited zone” extending into parts of the Sea of Oman and Arabian Sea along routes leading towards the Strait of Hormuz.
He warned that vessels entering the area without coordination with Iranian authorities could face action.
The UK Maritime Trade Operations agency also reported incidents involving merchant vessels in the northern Gulf and Gulf of Oman, including reports of ships being subjected to disabling fire.
One vessel near the United Arab Emirates was reported to be listing at anchor, possibly after being struck by an unidentified projectile.
In Iraq, authorities said they extinguished a fire aboard the Panama-flagged tanker New Andros after it was hit by a drone in the Gulf. The vessel was reportedly carrying about two million barrels of fuel oil.
The crisis has also spread along the Red Sea as Saudi Arabia and the Iran-backed Houthis intensify their confrontation.
The Houthis launched dozens of drones and missiles at Saudi targets in the southern cities of Abha, Khamis Mushait, Jazan and Najran on Tuesday, according to Saudi authorities.
The attacks injured 73 civilians and caused fires at several oil facilities, temporarily disrupting operations, Saudi authorities said.
The Houthis subsequently reported more than 50 Saudi air strikes across areas under their control in Yemen, including Marib, Jawf, Taiz, Hudaydah, Saada and Bayda.
The group also accused Saudi Arabia of bombing a prison in Hazm. Its military spokesman, Yahya Sarea, said 23 civilian bodies had been recovered from the rubble.
Saudi Arabia has not immediately commented on the latest reported strikes.
Heavy fighting has also continued along Yemen’s south-western coast after the Houthis launched an offensive against Saudi-backed government forces in an attempt to gain control of the Bab al-Mandab Strait, a strategic waterway linking the Red Sea with the Gulf of Aden.
More than 500 people have reportedly been killed and nearly 20,000 displaced in the fighting.
