WS #16294
Brent crude has breached the $110 barrier following confirmed IRGC claims of striking four oil ships in the Persian Gulf and setting three others ablaze near the Strait of Hormuz, alongside attacks on Saudi oil fields. This escalation has pushed global equities lower, with Asian markets entering bear territory and European stocks tumbling on the back of supply disruption fears. The event marks a critical inflection point in the Middle East conflict, directly threatening global energy flows and inflation expectations.
Middle East Escalation & Oil Shock
Brent crude has breached the $110 barrier following confirmed IRGC claims of striking four oil ships in the Persian Gulf and setting three others ablaze near the Strait of Hormuz, alongside attacks on Saudi oil fields. This escalation has pushed global equities lower, with Asian markets entering bear territory and European stocks tumbling on the back of supply disruption fears. The event marks a critical inflection point in the Middle East conflict, directly threatening global energy flows and inflation expectations.