You are using an outdated browser For a better experience using this site, please upgrade to a modern web browser. Subscribe Get Daily Email Subscribe --> Contact Us Sign in Home News & Features Compliance Costs Bunker Prices Bunker Intelligence World News Latest Features World Americas EMEA Asia/Pacific Home News & Features World Iran Threatens South Korea, But Oil's Rise Is Restrained Iran Threatens South Korea, But Oil's Rise Is Restrained by Ship & Bunker News Team Monday September 7, 2026 Tweet Follow @shipandbunker Meanwhile, Aramco facility is struck by enemy fire on Monday: File Image/Pixabay Alarmist media headlines about high oil prices aside, crude trading on Monday continued to be fairly restrained   despite the U.S. and Iran trading strikes over the weekend, with the latest casualty being a Saudi Aramco facility in Jizan . After it was reported  that the facility, home to a 400,000 barrel per day (bpd) refinery, was struck and damage was being assessed, Brent rose 1.5 percent to $97.73 per barrel. West Texas Intermediate climbed 1.8 percent to $93.10 . “ The market could price in a much larger supply shock Priyanka Sachdeva, head of market insights, Phillip Nova The weekend’s hostilities included three Iranian oil tankers destroyed by the U.S military, said to be part of the Islamic republic’s shadow network that funds the Revolutionary Guard and its proxies. Iran denounced the attacks as a war crime; it also warned  South Korea of “serious consequences” following reports that it is considering sending forces to the Strait of Hormuz . Meanwhile, Anwar Gargash , a diplomatic advisor to the president of the United Arab Emirates , vowed on Monday that “no single state” should control the Hormuz; he made the remark after Tehran said it would release a map showing a new transit route for ships under Iranian supervision. Gargash added that the UAE was building alternative routes for its energy exports and trade to ensure they are no