Xinhua Finance, New York, March 1 - International crude oil futures prices rose sharply at the start of the new week's trading on the evening of the 1st, as geopolitical tensions in the Middle East escalated significantly due to U.S. and Israeli air strikes on Iran, putting energy market supplies at risk of disruption.

As of 6:45 p.m. Eastern Time on the 1st, the price of light crude oil futures for April delivery on the New York Mercantile Exchange rose to a high of $75.33 per barrel, an increase of 12.4% compared with the previous trading day's closing price ($67.02 per barrel); the price of London Brent crude oil futures for May delivery rose to a high of $82.37 per barrel, with an increase of 13% compared with the previous trading day's closing price ($72.87 per barrel).

According to a report by Iran's Mehr News Agency on March 1, an unauthorized oil tanker was hit while attempting to pass through the Strait of Hormuz and is currently "sinking".

Multiple sources from trading institutions said on February 28 that after the United States and Israel attacked Iran, Iran announced the closure of the Strait of Hormuz waterway, and several oil tanker owners and traders have suspended the transportation of crude oil, fuel and liquefied natural gas through this strait.

The Strait of Hormuz is a vital passage for crude oil exports from Middle Eastern oil-producing countries such as Saudi Arabia, Iraq, Qatar, and the United Arab Emirates. Approximately one-fifth of the world's total oil shipments are transported through this strait. A large quantity of liquefied natural gas produced in Qatar is also shipped out via this strait.