Crude oil surges past $100 barrel milestone amid Middle East tensions and supply concerns. Iran's Revolutionary Guard reported firing on and seizing multiple vessels in the critical Strait of Hormuz, a vital chokepoint for global energy supplies. This geopolitical escalation sent Brent crude climbing sharply as markets priced in increased risk to shipping and potential disruptions. Simultaneously, US crude inventories posted an unexpected draw, defying analyst expectations for a build and signaling stronger domestic demand or supply tightness. The combination of geopolitical risk and tightening supply fundamentals is pushing energy prices higher, with implications for inflation and consumer fuel costs ahead.
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