Iran warns of a new military response plan if the US resumes attacks, as multiple commercial vessels report being struck near the Arabian Peninsula. Crude oil prices surged to $110 a barrel amid heightened Middle East tensions.
01Summary
- 01Iran's Supreme National Security Council Secretary Mohsen Rezaei said armed forces have prepared a 'new operational plan' that would be 'far more devastating' than previous conflicts.
- 02A tug northeast of the UAE was hit by two unknown projectiles on Sunday, according to UK Maritime Trade Operations (UKMTO).
- 03A liquefied natural gas tanker southwest of Yemen reported being approached by a skiff that fired twice on Saturday.
- 04Another tanker northeast of Saudi Arabia was hit by a rocket-propelled grenade from a small boat on Friday.
- 05Brent crude hit $110 a barrel for the first time since May, while US West Texas Intermediate rose 3.5% to $101.41 per barrel.
02Why it matters
Oil prices are climbing sharply due to fears of supply disruption in a volatile Middle East, which could push up fuel costs for consumers and businesses globally.
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