Oil prices surge to a one-month high as U.S. military strikes on Iran escalate, with Brent crude nearing $95 a barrel amid fears of prolonged conflict over the Strait of Hormuz. The U.S. Secretary of State warns Tehran that warships will remain to protect shipping lanes, accusing Iran of violating a ceasefire and threatening further action. Energy markets are under triple pressure from disruptions in the Strait of Hormuz, Red Sea, and Black Sea, forcing tanker reroutes and halting key oil exports. Gas prices hit $4 a gallon, crude edges toward $100, and markets now anticipate a Fed rate hike this month. While the U.S. still seeks peace with Iran — demanding it abandon terrorism and nuclear ambitions — it’s prepared to act decisively if Tehran doesn’t comply, leaving diplomatic options uncertain as Iran reaches out with little trust from Washington.
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