Tehran Under Attack; Saudi Arabia Alarms; Oil Prices to Rise

Saudi Arabia reported downing drones as explosions rocked Tehran, prompting fears of regional escalation and a potential surge in oil prices.

Saudi Arabia and Regional Responses

The Saudi Ministry of Defense reported intercepting multiple drones, primarily in the eastern regions of the kingdom. Air defense systems were also activated in Kuwait and the United Arab Emirates, while Bahrain’s Interior Ministry reported a fire at a warehouse caused by falling debris.

Qatar strongly condemned Iran’s attack on the Ras Laffan gas terminal. Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani stated that such hostile acts and their escalation would only increase regional instability, emphasizing collective security responsibility.

Oil Price Concerns

Analysts predict oil prices could reach $180 per barrel if disruptions in the Strait of Hormuz continue until the end of April. Brent crude oil prices decreased to approximately $105.8 per barrel on Friday.

Casualty Reports and Maritime Security

According to the American agency HRANA, the death toll in Iran has exceeded 3,180, with nearly half being civilians. The International Maritime Organization (IMO) expressed concern for approximately 20,000 sailors stranded on ships in the Gulf and called for the establishment of a “safe maritime corridor.”

Conflict Overview

The United States and Israel have been bombing Iran since February 28th, prompting retaliatory attacks by Iran against Israel and Gulf states, targeting both American bases and civilian areas. The Iranian Islamic Revolutionary Guard Corps (IRGC) announced the closure of the Strait of Hormuz, a critical waterway for global oil transport, causing a sharp increase in oil prices worldwide.

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