The war in the Middle East has entered a critical phase, threatening global energy markets with total collapse.
To 04:30 Bulgarian time on September 9 the situation in the Persian and Oman Gulfs escalated sharply. The Air Force of The US launched massive strikes on Iranian oil tankers, while Tehran-backed Yemeni Houthis launch their biggest attack on four cities in Saudi Arabia. World Crude Oil Index Brent is rapidly moving towards the psychological limit of 100 dollars per barrel.
Missile duels: Destroyed tankers and strikes on bases
The US Central Command (CENTCOM) has officially confirmed the destruction and disabling of five Iranian oil tankers in the Gulf of Oman and near the strategic island of Kharq. According to information from Fox News, the strikes were a direct response to the increased attacks by the Islamic Revolutionary Guard Corps (IRGC) against American warships in the region. CENTCOM specified that the crews of the Iranian vessels were ordered to abandon the ships before the attack, in order to avoid casualties. Iran later officially called on all its tanker crews near Kuwait and Bahrain to evacuate immediately due to the risk of further strikes.
In response to the US offensive, The IRGC announced that it had fired ballistic missiles at two US warships, as well as at military bases in Jordan used by the US armed forces (including the Muwaffak Salti Air Base). The Iranian news agency SNN reported that the strikes targeted the infrastructure for deploying F-35 and F-16 fighter jets.
Regional media Al Jazeera and Al Hadath reported that Jordan's air defense forces were actively intercepting Iranian ballistic missiles over the capital Amman and near the northern city of Irbid, trying to repel the massive air attack. Meanwhile, Tehran accused the United States of also hitting a merchant ship near the important Iranian port of Jask.
US Secretary of State Marco Rubio issued a stark warning, stating that The US will respond with uncompromising strikes on Iranian tankers in any subsequent attack on American ships.
Houthis attack Saudi Arabia: Over 70 injured
Amid the direct conflict between Washington and Tehran, the Iran-backed Yemeni Houthis have activated a new front. They carried out a massive drone and missile attack on 4 key cities in Saudi Arabia – Jizan, Abha, Najran and Khamis-Mushait.
According to Reuters and confirmation from Saudi authorities, as a result of the strikes are at least 73 civilians were injured, including women and children. The attacks caused large fires at oil facilities of the state-owned giant Saudi Aramco. NASA satellite images recorded thick clouds of black smoke over the Jizan refinery and the oil distribution center in Abha. The Arab coalition led by Riyadh announced that it would take all necessary operational measures to neutralize the threat.
Oil panic: Brent chasing $100, OPEC on the verge of collapse?
The military escalation and the de facto blockade of the Strait of Hormuz caused shock waves on the stock exchanges. The price of Brent crude oil jumped sharply, approaching $100 per barrel (reaching levels of around $98.70 - $99.46 in recent hours). Analysts warn of the risk of a permanent global fuel shortage.
Against this backdrop, the statement by US Treasury Secretary Scott Besant caused additional tremors. According to economic reports, Besant has admitted the possible collapse of the OPEC oil cartel in the foreseeable future. He predicts that after the eventual end of the war with Iran and a US victory, the market will be flooded with a huge oversupply, which could push prices down to $40 a barrel, destroying the cartel's influence. For now, however, geopolitical risk dictates record high prices.