Crude oil jumps over 5% as US-Iran tensions flare again; Brent crude climbs past $114

Crude oil prices surged after renewed tensions between the United States and Iran. Following reports of a tanker attack in the Strait of Hormuz, the US announced its readiness to guide commercial ships through the waterway, while Iran warned that all ships passing through must coordinate with its forces. This heightens risks to global energy supply flows.