Iran has issued a warning over potential disruption to global oil supplies, raising concerns about price volatility. The threat comes amid heightened tensions in the Middle East, with Tehran signalling it could take action affecting oil markets.
In a separate diplomatic move, Spain has recalled its ambassador to Israel for consultations. The decision follows escalating rhetoric between Madrid and Tel Aviv over the conflict in Gaza, marking a significant step in bilateral relations.
The developments underscore the widening impact of the Israel-Hamas war, which has now drawn in regional powers and sparked diplomatic rifts. Spain's recall of its envoy is seen as a protest against Israel's military operations.
Meanwhile, oil prices have been fluctuating as markets assess the risk of supply disruptions from the region. Iran's warning adds to the uncertainty, with traders monitoring any potential escalation that could affect crude output.
