The United Arab Emirates accused Iran of attacking an ADNOC oil tanker in the Strait of Hormuz on Friday evening. This incident marks the third attack on an ADNOC-operated vessel within a single week. The Emirati state-run WAM news agency reported that the strike resulted in no injuries.
The Strait of Hormuz previously handled approximately 20% of globally traded oil and natural gas. These recurring attacks have severely disrupted shipping through this vital energy corridor.
Oil prices surged between 4% and 6% over the week due to renewed geopolitical risks. Analysts report the crisis shifted the oil market into a supply-driven regime. This transition triggered increased price volatility and a rapid depletion of global inventories.