Oil tops $100 a barrel for first time since 2022 as Iran war rattles energy markets
Traders and analysts say the market is pricing in the real possibility that supply chains could be severely disrupted
TEHRAN (MNTV) — Oil prices have crossed the $100-per-barrel threshold for the first time in three years, as the widening conflict involving Iran stokes fears of serious disruptions to global energy supplies.
Both Brent crude and U.S. West Texas Intermediate futures surged past the milestone, driven by mounting anxiety over the stability of oil flows from one of the world’s most vital energy corridors — the Arabian Gulf.
The spike tracks closely with the intensifying military confrontation between the U.S., Israel and Iran, including Iranian strikes on energy infrastructure and American interests across the region.
Traders and analysts say the market is pricing in the real possibility that supply chains could be severely disrupted if the conflict continues to escalate.
Of particular concern is the Strait of Hormuz, the narrow waterway through which roughly 15 million barrels of crude pass each day — accounting for approximately a fifth of global oil supplies.
Any sustained interference with traffic through the strait, analysts warn, could send prices even higher and send shockwaves through the global economy.
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