Global oil prices spiked sharply following reports that President Trump is weighing potential new military strikes against Iran. Major stock indexes retreated as investors grew increasingly anxious about fresh disruptions to Middle East energy supplies and shipping lanes. The renewed geopolitical friction immediately pushed Brent and U.S. crude benchmarks higher, compounding economic uncertainty. Analysts note that heightened conflict risks threaten to reverse recent progress on energy stabilization and stoke fresh inflationary pressures. Markets remain volatile as traders monitor administration statements and evaluate the threat of broader regional escalation.

Full report : Crude surges past key thresholds as markets react after U.S. considers escalating its operations against Iran.