A new strong shock caused international energy markets to escalate attacks on tankers in Middle East, leading the prices of crude oil to jump over 6% and both Brent and American slow over the $100 a barrel limit.
Its future performance contracts Brent They completed the meeting with a $6.42 rise or 6.34%, at 107.63 a barrel. The American slow West Texas Intermediate (WTI) first exceeded the level of $100 in May, reinforced by $6.43 or 6.69%, at 102.48 a barrel.
Both indicators reached the highest levels since 19 May, recording the largest daily rise in the last nearly two months.
New threats to maritime transport
Yemen's Huthi rebels, aligned with Iran, took control of Moha Port on Thursday, creating a new threat to navigation in the Red Sea.
At the same time, ship traffic in the Gulf remains limited through the Straits of Ormuz, as attacks on tankers in the area have intensified in recent days.
«Yemeni attacks on Saudi energy installations introduce a new risk factor for the market, broadening concerns beyond Iran and the Straits of Hormuz», said Simon-Peter Masabny, head of business development of XS.com.
As he said, the threat is no longer limited to a single strategic crossing point, but includes the risk of disturbances that can affect the export routes, oil facilities and more broadly the region's energy infrastructure.
Iran attacks near the Straits of Hormuz
US President Donald Trump warned that Washington might strike Pickaxe Mountain in Iran, near the highly damaged uranium enrichment facility in Natanz, while he estimated that the war would likely continue beyond the mid-election of November.
Iran argued that it attacked 10 ships near the Straits of Hormuz on Wednesday, after American blows to five Iranian tankers. The Guards of the Islamic Revolution (IRGC) said they would escalate their reaction to any new attack.
«With the possibility of a definitive settlement of the conflict with Iran being reduced and Brent having recently exceeded $100 for the first time since July, oil markets enter a prolonged new reality, where the risk of disturbances is permanent and not occasional», reported a new analysis of S&P Global Energy.
The Look at China
Analysts estimate that the duration of the upward rally will largely depend on China's progress, the world's largest importer of crude oil.
China has increased its markets in recent weeks, after months of subdued demand, strengthening prices in the natural crude market, according to ING analysts.
If the recovery of Chinese markets continues, it can further enhance the impact of possible disturbances on the supply and lead prices higher. On the contrary, a decline in imports could limit market profits.
«For months, the oil negative scenario was based on weak Chinese demand», said David Yorbenase, head of world oil market at ICIS.
Stock reduction, lower forecast than OPEC
Stocks of crude oil in the US decreased by 391,000 barrels last week, to 424.1 million barrels, as refinery activity remained strong, according to the U.S. Energy Intelligence Agency (EIA).
Analysts expected a larger drop, about 1.55 million barrels.
At the same time, OPEC downgraded its forecast of increasing global oil demand in 2026 to 380,000 barrels daily, in the fifth successive downward revision.
OPEC oil production declined by 640,000 barrels daily in August, according to a survey by Reuters, as Saudi exports faced new disturbances due to the war with Iran, while the American blockade restricted Iranian missions.
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