WTI crude oil prices have jumped in the pre-market session, with futures rising over 2.7%. The primary driver is the significant escalation of hostilities between the United States and Iran in the Middle East. [1, 5, 8] Recent attacks on oil tankers and facilities have stoked fears of a wider conflict that could disrupt global crude supplies, particularly through the critical Strait of Hormuz waterway. [2, 3, 11] This has pushed Brent crude, the international benchmark, above the psychological $100 per barrel mark. [3, 4, 6]