06.03.2026 00:44
Iran's closure of the Strait of Hormuz has started to affect international oil prices. The price of Brent crude oil has risen above $85 per barrel in international futures markets.
With the closure of the Strait of Hormuz to transit, the barrel of Brent crude oil has risen above 85 dollars.
BRENT CRUDE OIL RISES TO 85 DOLLARS
Yesterday, the price of Brent crude oil reached as high as 84.48 dollars, finishing the day at 81.40 dollars. As of today at 22:18, the price of Brent crude oil has increased by approximately 5.4% compared to the closing price, reaching 85.82 dollars. At the same time, the barrel of West Texas Intermediate (WTI) crude oil was sold at 81.41 dollars.
WAR DIRECTLY AFFECTS GLOBAL MARKETS
The rising oil prices continue to be influenced by the growing geopolitical tensions in the Middle East. The risks created by the escalating war between the U.S. and Israel and Iran on regional energy production, oil shipments, and maritime transport are directly affecting the markets. The necessity for some major producers in the region to reduce their production due to security and logistical issues is also raising concerns about global oil supply, thereby increasing prices.
Israeli Prime Minister Benjamin Netanyahu claimed that the attacks launched against Iran in conjunction with the U.S. have been "successful," signaling that they will continue the assaults. Iranian Foreign Minister Abbas Araghchi stated that his country is prepared for a ground invasion by U.S. forces and has not called for a ceasefire.
IRAN STRIKES OIL FACILITY IN BAHRAIN
Meanwhile, in a post made on the social media account of the U.S.-based X company, the Bahrain Ministry of Interior reported that a facility belonging to the national oil company in Bahrain was hit in retaliatory attacks launched from Iran. It was reported that a facility in the Al-Meamir region was targeted and that authorities are investigating the incident. The statement noted, "The fire that broke out at one of the facilities targeted by the Iranian attack in Meamir has been brought under control."
ATTACK ON OIL TANKER IN IRAQ
It was also reported that an attack was carried out on an oil tanker belonging to a U.S. company at the Port of Hor al-Zubair in Basra, Iraq. In a written statement by Sonangol Marine Services, it was stated that the attacked oil tanker belongs to them and is registered in the Bahamas. The statement indicated that a "bomb-laden boat" struck the oil tanker, and there was a reported oil leak from the damaged tanker. No information was provided regarding the origin of the attack.
FEARS OF MORE SEVERE PRICE FLUCTUATIONS
World Health Organization Director-General Tedros Adhanom Ghebreyesus expressed concern over the threat of nuclear facilities being affected by the increasing tensions in the Middle East due to the U.S. and Israel targeting Iran.
Experts suggest that if the conflicts in the Middle East spill over into oil production areas or critical energy transport lines, more severe price fluctuations may be observed in global energy markets. Therefore, investors and market analysts are closely monitoring developments, especially around the Strait of Hormuz and the Persian Gulf.
Technically, it is stated that 87.42 dollars can be observed as resistance and 82.83 dollars as support for Brent crude oil.