War alarm in the Middle East! Oil tops $111

Military tensions climbing in the Middle East and reports of attacks on oil tankers targeting energy facilities have heightened supply concerns in global markets. While the price of Brent crude rose 2.4% to $111.48 per barrel, allegations that the United States and Israel are preparing a new operation against Iran have intensified market unease.

Brent Crude Again Surpasses $111.

On international markets, the price of Brent crude for the December contract finished the previous day at $108.82 per barrel before rising on the new trading day. By 09:14 a.m., the price had climbed 2.4% to $111.48.

At the same time, the December contract for U.S.-style West Texas Intermediate (WTI) crude traded at $99.23 per barrel.

In the price rise, risks of conflict in the Middle East, as well as data on U.S. oil inventories and production, also played a role.

Allegation that the United States and Israel Are Preparing a New Operation Against Iran.

In reports in the U.S. press that cite unnamed officials, it was alleged that the Washington and Tel Aviv administrations are evaluating new military operation options against Iran. According to the claims, preparations for a possible operation are underway.

While it was suggested that U.S. President Donald Trump could decide on a military intervention this month, it was stated that the Washington administration is considering various options to prevent Iran from acquiring nuclear weapons.

It was reported that some officials argued that refinery and energy infrastructure should not be targeted in potential operations to avoid a sharp rise in oil prices. No official decision regarding the claims was confirmed.

The Oil Field in Saudi Arabia Became the Target of the Attack.

It was reported that an unmanned aerial vehicle attack was carried out on the Sheybe Oil Field, located in southeastern Saudi Arabia and operated by Saudi Aramco.

The Saudi Arabian Ministry of Energy announced that two people lost their lives and two others were injured in the incident. According to the ministry's statement, air defense systems intercepted the UAV, but a fire broke out in a vehicle outside the facility.

Although it was noted that there were no disruptions to production activities in the oil field, the attack increased concerns about the security of the region's energy infrastructure.

Four Ships Targeted in the Gulf of Basra

Another development that heightened tensions in the region was the statement that four ships had been targeted in the Gulf of Basra.

The Islamic Revolutionary Guard Corps Navy announced that four ships conducting ship‑to‑ship oil transfers had been hit in a simultaneous attack. The statement alleged that the vessels had used unauthorized routes, and that fires continued after the assaults.

Iran also accused the United States of directing its ships onto the routes that were said to be mined, warning that if this continued, U.S. bases in the region could also become targets.

These developments in the Gulf of Basra, one of the key routes for oil transport, reinforced concerns that shipments could be disrupted.

Oil Stocks in the U.S. Fell More Than Expected

U.S. stock data also played a role in the rise of oil prices

According to data from the U.S. Energy Information Administration, commercial crude oil inventories in the country fell by 3.1 million barrels last week to 412.5 million barrels. A decline of about 100,000 barrels was expected in the markets

During the same period, U.S. strategic petroleum reserves fell by 300,000 barrels to 282.7 million barrels. Daily crude oil production was recorded at 13.269 million barrels, down 410,000 barrels

The steeper‑than‑expected drop in stocks, combined with Middle East supply concerns, increased the upward pressure on prices

Which Levels Are Being Tracked in Oil Prices

In the markets, investors' focus is on military developments in Orta Doğu and the security of oil shipments. Technical analysis highlights a resistance level of 112,91 dollars for Brent petrol and a support level of 103,58 dollars.

It is assessed that price volatility could continue if tensions in the region deepen or oil transport is disrupted. However, the course of military developments and whether there will be an actual supply interruption will be decisive for the direction of the oil market.