Amid the Iran war, oil prices surged sharply after US President Donald Trump signalled continued attacks on Iran, raising fears of prolonged disruptions to global supply. Brent crude jumped above $108 per barrel while WTI climbed past $107 as markets reacted to escalating tensions. The surge comes amid rising risks around the Strait of Hormuz, a critical shipping route handling a significant share of global oil flows. Reports of tanker attacks and growing maritime threats have further pushed traders to price in worst-case supply disruptions.

An oil tanker leased to QatarEnergy was struck by an Iranian cruise missile in Qatari waters near the Ras Laffan industrial hub, home to the world’s largest LNG export facility. Qatar said three missiles were launched, with two intercepted and one hitting the Aqua 1 fuel tanker. The vessel sustained damage above the waterline, but no casualties or environmental impact were reported. The strike comes as tensions escalate across the Gulf amid the ongoing Iran conflict and growing threats to global energy infrastructure.