Brent crude climbs beyond $97 as Hormuz disruptions choke global oil supplies

 With the ongoing conflict in the Middle East escalating, oil prices are experiencing a significant uptick as global supplies come under threat. Iran has issued warnings of retaliation against US actions, heightening fears surrounding energy infrastructure. As tensions rise in the Strait of Hormuz, traders are incorporating a risk premium into oil costs. With the ongoing conflict in the Middle East escalating, oil prices are experiencing a significant uptick as global supplies come under threat. Iran has issued warnings of retaliation against US actions, heightening fears surrounding energy infrastructure. As tensions rise in the Strait of Hormuz, traders are incorporating a risk premium into oil costs.