CENTCOM Claims Record Oil Price Surge Amid Escalating Tensions with Iran

Escalating tensions in West Asia have driven oil prices to their highest level since July 24, with Brent crude futures closing at $96.28 a barrel on Friday.

The US Central Command (CENTCOM) has claimed that it 'permanently disabled' three Iranian oil tankers, including the MT Downy off the coast of Kharg Island and the MT Stark 1 near Jask, as part of its efforts to disrupt Iran's shadow network that funds the IRGC and its regional proxies.

The CENTCOM attack came soon after Tehran said it had targeted three tankers on unauthorized routes in the Strait of Hormuz. The US has vowed 'even higher economic cost' if Iranian forces continue to attack American vessels, while the Iranian Foreign Ministry has called the US actions a 'war crime' and a threat to international peace and security.

The oil price surge has been driven by global supply concerns, with Brent crude rising 7.6% and US crude gaining nearly 10% during the week. Diesel prices in the United States have set a retail record at $5.85 per gallon on average, according to AAA data cited by Reuters.