Why oil prices are suddenly surging as Trump and Iran clash again
Global oil prices surged to a four-week high as the U.S. reinstated a naval blockade of Iranian ports amid escalating tensions between Washington and Tehran. Brent crude futures rose 3.29% to $86.04 per barrel, while U.S. West Texas Intermediate crude increased 2.83% to $80.35 per barrel, driven by fears over energy supply disruptions through the Strait of Hormuz. Iran has responded by shutting the waterway until further notice, significantly reducing tanker traffic in the region.