Tanker Attacks: Tensions have spiked as Iran targeted two foreign oil tankers in Iraqi waters. This marks the 6th vessel struck in the Persian Gulf within just 48 hours, making shipping routes extremely volatile.

Strait of Hormuz Blockade: The ongoing strikes have effectively disrupted this crucial waterway, causing a major bottleneck in the global oil supply chain.

Oil Prices Surpass $100: Despite the International Energy Agency (IEA) releasing a record 400 million barrels from reserves, Brent Crude has climbed back above the $100 per barrel mark.

Market Sentiment: The fact that prices remain high despite a massive reserve release shows deep market anxiety over long-term supply stability, posing a significant risk to the global economy.