Oil prices remain above $100 amid escalating Iranian attacks in the Strait of Hormuz

Oil prices have remained above 100 dollars per barrel as of Thursday following a series of Iranian attacks on commercial vessels. The incidents occurred in the Strait of Hormuz, a critical maritime route for global energy transit, after Iran targeted more than a dozen ships attempting to navigate the passage on Wednesday.

The sustained price level reflects ongoing market sensitivity to geopolitical instability in the region. This development coincides with broader global economic pressures, as energy costs have also contributed to inflationary trends in other regions, including a recorded increase in Germany's consumer price index for August.