Operation Rising Lion intensifies fears of energy‑sector disruption after Israel targeted Iran’s nuclear and ballistic missile infrastructure with over 200 aircraft. Iran’s response involved launching more than 100 drones toward Israel, prompting regional airspace closures.
This sparked a swift rebound in Brent and WTI crude prices, each climbing around 9%, along with added volatility over potential Strait of Hormuz shutdowns. Analysts at ING note that a major disruption to global oil supplies would likely require a substantial retaliatory move from Iran.
Trading houses in Singapore have voiced concerns that Iran could attempt to blockade shipping lanes, risking millions of barrels per day in lost exports.
Oil-market instability is having immediate global effects. Airlines have begun evaluating fuel surcharges; governments are reassessing strategic reserves. Consumers should expect near-term price spikes at the pump.
