WTI crude oil prices have risen to a six-week high due to growing fears of a significant global supply disruption. The primary driver is the escalating conflict between the U.S. and Iran, which has included a 12th consecutive night of U.S. military strikes and threats of further action. Adding to supply concerns, major shipping chokepoints are under threat. Iran's Revolutionary Guards have reportedly closed the Strait of Hormuz, and Iran-backed Houthi militants have attacked Saudi oil tankers in the Red Sea, creating a dual-front risk to global crude transit.