Oil prices surged sharply in Asia trading as Middle East tensions resumed after Iran launched ballistic missiles at U.S. forces in the region. International benchmark Brent crude gained 3.42% to $86.97 a barrel, while U.S. West Texas Intermediate futures advanced 3.58% to $82.09 per barrel. The U.S. and Saudi Arabia retaliated by striking multiple terrorist logistics and weapons sites in eastern Iraq, responding to over 30 drone attacks by Iran-aligned groups over the past three days. Houthi attacks on Saudi oil production, storage and port infrastructure have further heightened concerns about regional supply disruptions.
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