Oil prices surge as Middle East tensions escalate dramatically. Brent crude jumped 2.5% to $115.45 per barrel Monday after Yemen's Houthis fired missiles at Israel, opening a new conflict front. West Texas Intermediate rose 1.5% to $101.17. Brent has climbed over 55% this month, tracking its steepest monthly gain on record. President Trump's comments about seizing Iranian oil have intensified market concerns. Analysts warn that disruptions through the critical Bab el-Mandeb Strait, which handles four to five million barrels daily, could push prices significantly higher. Some projections suggest crude could reach $150 per barrel if supply chains face further interruption. The escalating Iran-Israel conflict now involves multiple regional actors, creating unprecedented risks to global energy infrastructure and supplies.
