Oil prices jumped over 3% on Monday morning, driven by escalating regional conflicts, Houthi strikes on Saudi territory, and vessel attacks in the Persian Gulf.
Brent crude rose $3.21 to reach $107.82 per barrel, while West Texas Intermediate gained $3.17 to trade at $103.22 per barrel.
The aggressive market surge follows the strategic shutdown of Saudi Arabia’s critical East-West oil pipeline after a recent drone strike.
This infrastructure closure severely restricts export flexibility, cutting off viable workarounds away from the heavily contested Strait of Hormuz.
Simultaneous maritime attacks and territorial strikes compound existing supply deficits, threatening roughly 4% of total global petroleum production.
These disruptions arrive as crude markets struggle with multi-year production lows and heightened geopolitical risk premiums across vital Middle Eastern transit chokepoints.
Diplomatic efforts to stabilize the region suffered setbacks after scheduled de-escalation talks between Gulf states and Iranian officials in Oman were abruptly postponed.
