Global oil prices climbed sharply on Saturday after Iran launched missile attacks targeting multiple US military bases across the Middle East, escalating tensions and raising fears of disruptions to global energy supplies.
Brent crude surged to nearly $90 per barrel, recovering from levels below $75 just a day earlier. Market analysts warned that prices could climb above $100 per barrel if the conflict intensifies further.
According to Iranian officials, the missile strikes were carried out in response to recent US attacks on Iranian infrastructure. Tehran also warned that it would expand its military operations if Washington continued targeting Iranian assets.
Senior Iranian official Mohsen Rezaee, a member of the Expediency Discernment Council and senior commander of the Islamic Revolutionary Guard Corps (IRGC), said Iran would no longer limit its response to proportional retaliation.
He stated that if US military operations continue, Iran would move toward a broader offensive.
Meanwhile, videos circulating online appeared to show explosions at the Muwaffaq Salti Air Base in Jordan, which hosts US military personnel and aircraft. The footage has not been independently verified.
The sharp rise in oil prices reflects growing investor concerns that a prolonged conflict in the Middle East could threaten oil production and key shipping routes, tightening global crude supplies.
Energy analysts say Brent crude could move above $100 per barrel if the confrontation escalates further or if oil exports from the region face significant disruptions.
