Oil Prices Surge Past $100 Amid Oman's Terminal Evacuation

Oil prices exceeded $100 a barrel as of early trading on Thursday, following Oman's order for oil vessels to leave its main export terminal, Mina al Fahal. This decision is the latest indication of Iran's campaign against regional energy infrastructure, which has significantly disrupted normal oil trade in the Middle East.

Mina al Fahal is Oman's primary crude export facility, located outside the Strait of Hormuz, a crucial shipping route for Middle Eastern oil. Data from intelligence firm Kpler indicates that approximately one million barrels of Omani oil pass through this terminal daily.

Concurrently, reports emerged of two tankers being struck in Iraqi waters, underscoring the broader Iranian strategy of targeting energy assets across the region.