Oil prices have risen after Iranian explosive-laden boats attacked two fuel oil tankers in Iraqi waters. This follows other global supply disruptions from the U.S.-Israeli war on Iran. The incident appears to be a direct response to the International Association of Energy and Natural Resources (IAAF) announcement of a massive strategic reserve release. There are concerns that disruptions to oil shipments through the Strait of Hormuz and a significant production halt in Middle Eastern countries could pose a long-term supply crunch.