Oil prices may face a new round of significant volatility as a commercial vessel is attacked again in the Strait of Hormuz

BlockBeats News, July 12th, according to The New York Times report, a commercial ship in the Strait of Hormuz was attacked again on Saturday local time, followed by a new round of strikes by the United States on Iranian targets, escalating the Middle East situation, which may lead to another sharp fluctuation in international oil prices after the opening on Sunday.

Data shows that the current average daily number of ships passing through the Strait of Hormuz has dropped to 22, far below the pre-conflict level of over 130 ships per day. Brent crude oil closed this week at around $76 per barrel, up approximately 5% from before the outbreak of the conflict.

The report stated that Iran insists that commercial ships pass through its designated waterway, while some ships choosing to sail close to the Omani coast under U.S. military escort continue to be targeted. Analysts believe that although oil prices are still far below the wartime peak of nearly $120 per barrel, Iran has demonstrated its ability to influence the global energy market through the situation in the Strait of Hormuz.