Middle East tensions escalate again, driving oil prices up. Brent crude surges more than 5%, crossing $114 per barrel.

On Monday, international oil prices rose after the UAE claimed to have been attacked by Iranian missiles and drones, while the US denied reports of any warships being attacked in the Strait of Hormuz, leading to renewed uncertainty in the Middle East. Data showed that the price of light crude oil futures for June delivery on the New York Mercantile Exchange rose by $4.48 to $106.42 per barrel, an increase of 4.39%, while the price of Brent crude oil futures for July delivery in London rose by $6.27 to $114.44 per barrel, an increase of 5.8%. The UAE Ministry of Defense stated that their air defense systems were intercepting missile and drone attacks from Iran, causing explosions heard in multiple locations throughout the country. Earlier, Iranian state media had reported that a US navy ship attempting to pass through the Strait of Hormuz had been hit by a missile, sparking panic in the markets. However, the US Central Command later denied these reports, stating that "no US warships were attacked," causing oil prices to fall slightly. President Trump also mentioned that Iran had fired on ships from other countries, including a South Korean cargo ship, but no significant damage had been reported. The UAE further pointed out that a tanker belonging to the Abu Dhabi National Oil Company was attacked by drones while passing through the Strait of Hormuz, strongly condemning the action. As one of the most important energy transportation routes in the world, the security situation in the Strait of Hormuz directly affects global oil supply expectations. Trump previously announced the launch of a convoy protection plan called "Operation Sentinel" to provide safe passage for commercial vessels in the troubled waterway. In response, Iran issued a stern warning, stating that they would take action against any foreign armed forces approaching or entering the strait, especially the US military.