Oil prices surged after an Iranian drone attack set a Kuwaiti crude oil tanker on fire near the Gulf, raising global supply concerns. 

The blaze on the vessel, carrying millions of barrels of crude, highlighted risks to shipping in a key energy region. 

Traders reacted quickly, driving up prices as markets feared further disruptions to Middle East oil flows. 

The incident adds to recent attacks on ships in the Gulf, which have already pushed oil above $100 per barrel. 

Analysts say that instability near the Strait of Hormuz makes traders nervous about steady crude supply. 

The rising energy costs could affect fuel prices worldwide if tensions continue to disrupt exports.