Global oil markets are facing renewed volatility as prices surge toward the $100-a-barrel threshold. This sharp upward trend, which has now stretched for five consecutive days, was triggered by reports that Houthi militants struck two Saudi Arabian oil tankers. The escalation has intensified fears regarding the security of critical energy shipping routes, particularly through the Red Sea and the Strait of Hormuz, effectively creating a dual-threat environment for global supply chains.

Analysts are expressing growing concern over these developments, with experts at Goldman Sachs warning that if instability in these vital chokepoints persists, Brent crude could climb well above $120 by the end of the year. The situation is further complicated by rising tensions between the United States and Iran, coupled with record-high diesel margins in Europe driven by refinery disruptions. As global inventories tighten and seasonal travel demand remains high, the energy market appears braced for a period of sustained price pressure and uncertainty.