Fresh attacks on commercial shipping in key waterways have heightened concerns over global energy supplies as diplomatic efforts to end the US-Iran war show signs of stalling.
The attacks, reported by the United States and Yemen’s Iran-aligned Houthis, occurred in the Gulf of Oman and at the entrance to the Red Sea, two critical maritime routes for global oil and gas shipments.
The renewed tensions pushed oil prices higher on Wednesday. Brent crude rose to $88.80 per barrel, while US West Texas Intermediate (WTI) gained to $83.30 per barrel.
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The latest developments have added to market concerns that prolonged disruption around the Strait of Hormuz and the Bab el-Mandeb Strait could further constrain energy supplies.
