Global oil prices surged again on Monday as escalating tensions in the Middle East intensified market concerns over energy supply disruptions. Missile attacks launched by Yemen’s Houthi group toward Israel, along with remarks by U.S. President Donald Trump indicating interest in taking control of Iran’s oil resources, have significantly heightened uncertainty in the global energy market.
Brent crude futures for May delivery rose by more than 3 percent, reaching approximately $116 per barrel in Asian trading. Meanwhile, U.S. West Texas Intermediate (WTI) crude futures also climbed around 3.4 percent to nearly $103 per barrel. Analysts suggest that the steady rise in oil prices this month could mark a record increase.
The surge in oil prices has also negatively impacted Asian stock markets. Japan’s Nikkei 225 index dropped by about 4.5 percent, while South Korea’s KOSPI index declined roughly 3.5 percent on Monday.
In a recent interview, U.S. President Donald Trump stated that taking control of Iran’s oil resources would be his preferred option. He referenced Venezuela, noting how U.S. influence expanded in its oil sector following political changes, and hinted that a similar approach could be applied to Iran.
For nearly four weeks, Iran has been responding to sustained pressure from the United States and Israel, with tensions now spreading across the wider Middle East. Energy infrastructure across the region is increasingly at risk, driving further volatility in oil markets.
The Houthi group in Yemen has claimed responsibility for missile strikes targeting Israel. Spokesperson Yahya Saree stated on social media that the attacks were carried out in coordination with support from Hezbollah and Iran, targeting key Israeli military installations. This development has further complicated the already volatile conflict.
Economist Ed Yardeni warned that the conflict is likely to become prolonged, with growing consequences for the global economy. He noted that high oil prices and elevated interest rates may persist for an extended period.
Experts have also cautioned that any prolonged disruption in the Strait of Hormuz could significantly increase the risk of a global economic slowdown, as a large portion of the world’s oil supply passes through this critical route.
Strategist David Roche suggested that markets are increasingly pricing in the possibility of more aggressive U.S. actions, including potential ground troop deployment or attempts to seize Iran’s main oil export hub on Kharg Island. Nearly 90 percent of Iran’s oil exports pass through this facility.
However, Roche warned that such actions could provoke severe retaliation. Iran may target key infrastructure in U.S.-allied Gulf countries, potentially escalating the conflict into a full-scale war.
Concerns have also been raised about the vulnerability of Saudi Arabia’s East-West pipeline, which transports around 5 million barrels of oil daily to the Red Sea. Any disruption near the Bab el-Mandeb Strait—where Houthi forces are active—could significantly impact exports.
Although the Suez Canal could serve as an alternative route, its limited capacity may reduce overall supply. Analysts warn that up to 4–5 million barrels per day could be removed from the global market, further intensifying volatility.
War intensifies: Oil prices rise again in global markets, shares fall in Asia
