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The increased targeting of oil and gas tankers in the Strait of Hormuz has heightened the geopolitical risks to global energy markets, leading to a significant rise in oil and gas prices. Brent crude surged to around $73.92 per barrel, and the European TTF gas index rose to €46.97 per megawatt-hour, following the targeting of a Qatari gas tanker — an incident that reflects a serious escalation threatening the security of global energy supplies through this vital strait. The strait is one of the most important global energy corridors, through which about one-fifth of global liquefied natural gas trade and approximately 20 million barrels of oil pass daily, making the market increasingly sensitive to any security escalation.
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