Iran's Threats Drive Oil Prices Near $100 Amid Gulf Tensions

Oil prices have surged near $100 per barrel due to Iran's intensified threats against Gulf energy infrastructure, causing Brent crude to jump 1.5% to $97.73 and West Texas Intermediate to rise 1.8% to $93.10.

The recent price surge comes after a weekend escalation between Washington and Tehran, which included reciprocal strikes on vessels moving through the Persian Gulf.

Iran's threats have been directed at American energy interests in the region, with Parliament Speaker Mohammad Baqer Qalibaf warning that U.S. companies operating there face significant vulnerability.

The Strait of Hormuz remains a critical chokepoint for global oil transportation, with Iranian officials signaling intentions to establish a new restricted maritime zone in the Gulf alongside an alternative shipping corridor.