Influenced by Iran's threat to expand the war in the Middle East, oil prices soared sharply, making the prospects for an agreement to reopen the Strait of Hormuz, a key waterway even bleak. Earlier, senior Iranian military officials said that if attacked again by the US or Israel, Tehran may spread the flames of war to the Indian Ocean. Affected by this news, Brent crude oil futures surged more than 3%, and the trading price exceeded 106 US dollars per barrel. Meanwhile, Saudi Arabia was once again attacked by the Houthis. Emily Ashford, head of energy research at Standard Chartered Bank, said: “The current market has almost lost its buffer capacity, so any reliable news pointing to a potential substantial supply disruption or escalation of the situation will have a disproportionately large impact on prices.”

Influenced by Iran's threat to expand the war in the Middle East, oil prices soared sharply, making the prospects for an agreement to reopen the Strait of Hormuz, a key waterway even bleak. Earlier, senior Iranian military officials said that if attacked again by the US or Israel, Tehran may spread the flames of war to the Indian Ocean. Affected by this news, Brent crude oil futures surged more than 3%, and the trading price exceeded 106 US dollars per barrel. Meanwhile, Saudi Arabia was once again attacked by the Houthis. Emily Ashford, head of energy research at Standard Chartered Bank, said: “The current market has almost lost its buffer capacity, so any reliable news pointing to a potential substantial supply disruption or escalation of the situation will have a disproportionately large impact on prices.”