Global oil prices surged sharply after two oil tankers were attacked in Iraqi territorial waters, sparking concerns over supply disruptions in the international energy market.

Brent crude oil prices rose by around 8 percent, approaching the $100-per-barrel mark once again. U.S. West Texas Intermediate (WTI) crude also climbed 7.5 percent, reaching $93.80 per barrel amid heightened market uncertainty.

The attacks come despite measures by the International Energy Agency (IEA) and member countries to release strategic oil reserves to stabilize the market. The IEA had announced the release of 400 million barrels of oil globally, while a 32-member organization had pledged to release its total reserves to ease supply pressures.

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In addition, the United States is scheduled to release 17.2 million barrels of oil next week to help control rising prices. However, these measures failed to calm investor sentiment immediately after the tanker attacks, which raised fears of further disruptions in the Persian Gulf region.

Analysts say the attacks on the two tankers underscore the vulnerability of maritime oil routes and may lead to short-term volatility in global crude markets. Traders are closely monitoring developments in Iraq and neighboring regions, as any escalation could drive prices even higher.

The market reaction highlights the sensitivity of global oil prices to geopolitical events, even when emergency stock releases are planned. Experts warn that sustained tensions in oil-producing regions could continue to exert upward pressure on prices, affecting fuel costs worldwide.