Overview
- Brent briefly topped about $82 before easing near $79 and WTI hovered around $72 after the weekend strikes that killed Iran’s Ayatollah Ali Khamenei, according to multiple reports.
- Incidents around the Strait of Hormuz disrupted navigation, with UKMTO reporting multiple attacks and interference, several tankers damaged and at least one seafarer killed.
- Major carriers including MSC and Maersk suspended transits after the IMO urged ships to avoid the area, insurers raised premiums and hundreds of vessels rerouted.
- European gas prices jumped more than 20% and global stocks fell, with airlines and tourism slumping as energy and defense shares advanced and investors moved to gold and the dollar.
- OPEC+ approved a 206,000 barrels-per-day increase for April, a step analysts say offers limited relief while route security—not headline supply targets—drives price direction.