Global crude oil prices are rising sharply as tensions in the Middle East continue to escalate, pushing prices to around $84 per barrel in international markets.

Energy markets have been reacting strongly to the growing uncertainty in the region, particularly after Iran reportedly blocked the Strait of Hormuz, one of the world’s most critical oil shipping routes. The closure has disrupted global oil supply chains and raised concerns among major importing nations.

At the same time, China has reportedly ordered its major refineries to halt the export of diesel and petrol in an effort to secure domestic fuel supplies. The move reflects growing fears that global energy shortages could worsen if the conflict continues.

According to US media reports, several countries including Japan, Indonesia, and India have also reduced refinery production and temporarily suspended fuel exports. These measures are aimed at protecting domestic markets from possible fuel shortages and price spikes.

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The Strait of Hormuz is a vital route through which a large portion of the world’s oil shipments pass every day. Any disruption in this narrow waterway can significantly impact global energy markets.

The United Nations has also expressed concern about the potential impact of the situation on global energy supplies. Officials warned that prolonged instability in the region could affect fuel availability and increase economic pressure worldwide.

Energy experts are cautioning that if tensions escalate further or supply disruptions continue, crude oil prices in the global market could rise dramatically, potentially reaching as high as $150 per barrel.