Markets Waver After US Strikes on Iran, Oil Prices Rise Sharply

International energy markets reacted with a sharp rise in oil prices following the latest United States attacks against Iran and the reimposition of US sanctions on Iranian oil exports.

As a result, Brent crude, which serves as the international benchmark, climbed 5.8% to reach $76.2 per barrel. US WTI crude also posted a 2.75% increase, rising to $72.38 per barrel.

This market movement came after Washington carried out military strikes on Iranian targets in response to attacks against commercial ships near the Strait of Hormuz. At the same time, the US administration reinstated sanctions on Iran’s oil exports.

The new tensions have deepened concerns over global oil supplies, as the Strait of Hormuz remains one of the most important energy transport routes in the world.

Meanwhile, Iran accused the United States of violating the memorandum of understanding reached between the two countries and warned that it would deliver a “devastating response,” raising fears of a further escalation of the conflict and its consequences for global markets.