According to CoinMeta, on Wednesday, attacks in the Red Sea and Gulf of Oman intensified concerns about the supply of global shipping routes, leading to rising oil prices. Brent crude oil futures rose by 1.24% to $90 per barrel, while West Texas Intermediate (WTI) crude oil futures increased by 1.3% to $84.3 per barrel. Houthi rebels supported by Iran launched an attack on a cargo ship in the Bab el-Mandeb Strait, resulting in six deaths, which is the first reported fatality in Red Sea shipping in over a year. The U.S. military subsequently fired missiles at a container ship that attempted to break through the blockade on Iranian ports. These incidents highlight the impact of war on critical shipping routes, despite diplomatic efforts showing progress in re-opening the Strait of Hormuz. Jose Torres, a senior economist at Interactive Brokers, stated that although the United States and Iran may be on the verge of reaching an agreement, concerns about Middle East oil supply still exist.