Crude Oil Prices Surge As Tehran's Air Defences Activate While Israel Signals Escalation

Last Updated:April 24, 2026, 00:02 IST

Tehran activates air defence against reported hostile targets, Israel signals readiness to resume war with Iran, oil prices jump over 5 percent on fears of wider conflict

Air defence systems were engaged in parts of Tehran on Thursday, reportedly targeting what officials described as “hostile targets", according to the state-run Mehr News Agency. The development followed earlier reports that air defence batteries across the capital had been activated and placed on high alert, indicating a sharp escalation in the security situation.

The heightened alert appeared to rattle global energy markets, with oil prices jumping soon after the reports emerged. Brent crude oil rose to around $107 per barrel, gaining over 5%, while WTI crude oil climbed to nearly $98. Murban crude also edged higher above $104, reflecting widespread concern among investors about potential disruptions in the Middle East, a region central to global oil supply. In contrast, natural gas prices saw a decline.

Amid the rising tensions, Israel signalled readiness to escalate the conflict further. Defence Minister Israel Katz said on Thursday that the country is prepared to resume military action against Iran and is awaiting approval from the United States to intensify its offensive. “Israel is ready to resume the war with Iran. The Israel Defense Forces have completed preparations for both defence and offence, and target selection has been finalised," Katz said in a Hebrew-language video message.

While there has been no immediate confirmation of direct strikes or casualties, the activation of air defences and Israel’s statements have heightened fears of a broader regional conflict. Analysts say even the perception of escalation involving Iran can trigger sharp volatility in global markets, particularly oil, due to the region’s strategic importance in energy production and supply routes.

With tensions continuing to build and military rhetoric intensifying, global markets and governments alike are closely watching developments, as any further escalation could have far-reaching geopolitical and economic consequences.

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