Oil Prices Rise as Iran Signals Potential Retaliation Toward U.S. Energy Interests in the Gulf
(RTTNews) – Oil prices were sharply higher on Tuesday, with Brent crude futures surging toward $100 a barrel on growing risks of a prolonged conflict in the Middle East.
Brent crude futures rose nearly 2% to $98.97 per barrel on Tuesday, climbing to a six‑week high as analysts highlighted heightened risks of a sustained Middle Eastern conflict. Meanwhile, West Texas Intermediate crude edged up 3.2% to $94.39 per barrel.
The Jazan refinery in Saudi Arabia suffered yet another attack by Houthi operatives on Monday, though the impact was limited.
“We view the Houthi assault on Saudi operations as a dangerous escalation,” warned Saudi‑led coalition spokesperson Turki AI‑Maliki, adding that steps will be taken to neutralize further threats.
Iranian Parlamemnt Speaker Mohammad Baqer Qalibaf cautioned the United States that any new strike on Iranian oil and gas assets would provoke a reciprocal response, noting that energy infrastructure across the Persian Gulf—including critical U.S. installations—is exposed.
Senior Iranian security official Mohsen Rezaei added that persistent economic warfare against Iran could trigger a maritime exclusion zone spanning the Persian Gulf, establishing a stringent blockade perimeter.
Traders also closely monitored negotiations concerning an Iranian–Omani pact aimed at managing shipping through the Strait of Hormuz.