International oil prices recorded their biggest one-day increase in nearly two months. The core factor driving the sharp rise in oil prices is the further escalation of tension in the Strait of Hormuz. Iran's Revolutionary Guard Navy announced the destruction of an American unmanned boat at the entrance to the Strait of Hormuz and warned that the strait is currently under its “intelligence control and surveillance” and that any “hostile action” will be met with a military response. Meanwhile, Yemen's Houthis have made significant progress in the Red Sea direction, successfully seizing the port of Moka on the Red Sea coast and the strategically important Hanish Islands, which means that security risks along the Red Sea route are changing from threat to reality. The Strait of Hormuz and the Strait of Mande are facing a substantial blockade at the same time, and the safety of the world's two major energy transportation arteries is being challenged at the same time. The fundamental strength of crude oil is certain, but the current price should not be chased higher.

International oil prices recorded their biggest one-day increase in nearly two months. The core factor driving the sharp rise in oil prices is the further escalation of tension in the Strait of Hormuz. Iran's Revolutionary Guard Navy announced the destruction of an American unmanned boat at the entrance to the Strait of Hormuz and warned that the strait is currently under its “intelligence control and surveillance” and that any “hostile action” will be met with a military response. Meanwhile, Yemen's Houthis have made significant progress in the Red Sea direction, successfully seizing the port of Moka on the Red Sea coast and the strategically important Hanish Islands, which means that security risks along the Red Sea route are changing from threat to reality. The Strait of Hormuz and the Strait of Mande are facing a substantial blockade at the same time, and the safety of the world's two major energy transportation arteries is being challenged at the same time. The fundamental strength of crude oil is certain, but the current price should not be chased higher.