Strait of Hormuz [AFP=Yonhap News Agency file photo]

International oil prices surged as military tensions in the Middle East, including the Strait of Hormuz, escalated again on the 4th (local time).

On the same day, Brent crude futures for July delivery closed at $114.44 per barrel on the ICE Futures Exchange, up 5.80% from the previous session.

West Texas Intermediate (WTI) crude futures for June delivery closed at $106.42 per barrel on the New York Mercantile Exchange, up 4.39% from the previous session.

The main reason for the surge in oil prices on this day was news that major energy facilities in the United Arab Emirates (UAE) had been attacked.

The UAE stated that a fire broke out at the Fujairah petrochemical complex due to missile and drone attacks originating from Iran. Fujairah is home to an oil export terminal that can bypass the Strait of Hormuz.

This marked the resumption of Iranian attacks on the Gulf region, which had halted for a month following a ceasefire with the United States, and the UAE warned Iran of its "full and legitimate right to respond."

In addition, the Iranian Islamic Revolutionary Guard Corps Navy released a map claiming to have expanded its "control range" in the Strait of Hormuz to areas south of its previous extent, near Fujairah.

Although Fujairah, located outside the strait, was considered a relatively safe detour, concerns spread that the entire oil supply chain could be paralyzed as Iran expanded its influence.

The United States has launched the "Liberation Project" to encourage the escape of ships trapped in the Strait of Hormuz.

The US and Iran are increasing tensions by continuing military activities involving missiles, drones, and speedboats in the vicinity of the Strait of Hormuz.

Iran claimed to have shot down a US Navy vessel, while the US military stated it had sunk six Iranian small military speedboats.

"Many do not believe the Strait of Hormuz will reopen anytime soon," said Arne Rohman Rasmussen, senior analyst at A/S Global Risk Management, adding that Iran's response amid military tensions must be closely monitored.