Crude Oil is trading now 3.25% higher at $99.17 as escalating U.S.-Iran military hostilities drove fears of disruptions to Middle East oil supplies.
- The U.S. destroyed five Iranian tankers; Iran retaliated with missile attacks.
- Iran also carried out strikes on shipping near the Strait of Hormuz.
- Brent moved above $100, further reinforcing the geopolitical risk premium in energy markets.