Oil prices surge past $100 as geopolitical tensions escalate. Brent crude futures jumped 7.98% to $102.80 a barrel following President Trump's announcement that the U.S. Navy will blockade the Strait of Hormuz. The strategic move comes after failed negotiations between the United States and Iran to resolve ongoing conflict. The Strait of Hormuz serves as a critical chokepoint for global oil shipments, with roughly one-third of seaborne petroleum passing through its waters. Supply disruption concerns are driving the sharp price increase, reversing Friday's modest decline. Energy markets remain highly sensitive to geopolitical developments in the Middle East, and any restriction on Iranian oil exports could further tighten global supply. Investors and consumers should expect continued volatility in crude prices as this situation develops.
