Oil prices continue to rise as Iran attacks a crude oil tanker in the port of Dubai.

Sina Finance reported on March 31st that oil prices continued to rise, with Iran attacking an oil tanker in the Persian Gulf and US President Donald Trump threatening to strike the country's civilian infrastructure, leading to escalating tensions in the Middle East. Brent crude rose 2% to above $109 per barrel at the opening on Tuesday. WTI also rose 3.9% to $106.86 per barrel at one point, reaching its highest level since July 2022 on Monday. Kuwait Petroleum Corporation stated that Iran attacked a fully loaded Kuwaiti crude oil tanker in Dubai, causing damage to the ship, a fire on board, and possible oil leaks in the surrounding waters. Since the outbreak of the war, Tehran has launched attacks on ships in the Gulf region and recently struck two ships near Iraq. Earlier on Monday, Trump wrote on social media that if Iran does not reopen the Strait of Hormuz, "we will bomb and completely destroy all of their power plants, oil wells, and Khark Island, as well as possibly all desalination plants."