Vast release of emergency crude reserves fails to quell mounting fears around energy supply crunch, rattling global markets
Oil prices again topped $100 per barrel on Thursday as widespread Iranian attacks on Middle Eastern energy facilities overshadowed a vast release of government reserves.
As Donald Trump vowed to “finish the job” and press ahead with the US-Israel war on Iran, the country’s regime stepped up retaliatory strikes on economic targets across the region.
Several merchant ships were struck in and around the strait of Hormuz, one of the most important arteries in global trade. Three crew members aboard one of the ships – the Thai-registered Mayuree Naree – were “believed to be trapped”, the vessel’s owner said.
Meanwhile, Iraq halted all operations at its oil ports after an attack on two nearby oil tankers. Bahrain told residents to stay home after an Iranian attack on fuel tanks in the Muharraq Governorate.
