Global oil prices saw an upward trend at the start of the week due to supply concerns arising from a drone attack on U.S. forces in Jordan.

Brent crude is currently trading at $83.21 per barrel, reflecting a 0.15 percent increase, while West Texas Intermediate crude (WTI) is at $78.22 per barrel, up by 0.15 percent compared to the previous close.

Both benchmarks experienced significant gains of 6.22 percent and 6.46 percent, respectively, last week—their most substantial weekly increase since August 2023.

The drone strike on U.S. troops in Jordan has raised worries about a potential escalation in the already volatile Middle East.

According to some analysts, the incident could mark a critical turning point in the ongoing conflict and might lead to increased U.S. involvement.

The prospect of heightened tensions with Iran further adds concerns about potential disruptions in regional energy supply.

Commodities trader Trafigura is assessing the security risks of Red Sea voyages following a recent attack on one of its tankers by Yemen’s Houthi group.

While disruptions to supply have been limited, the targeting of oil tankers linked to the U.S. and the UK has prompted the market to reconsider the risks of potential disruptions.

A missile attack off the coast of Yemen has led to a reassessment of Russia’s naphtha exports, with expectations of a cut in exports by approximately a third of its total.

Fires disrupting operations at refineries on the Baltic and Black Seas are cited as the cause for this potential reduction.