Brent Crude Surges to $95.01 Amid Escalating Tensions with Iran

The global oil market saw a significant surge on Tuesday as Brent crude futures jumped to $95.01 per barrel after the United States launched military strikes on Iranian targets near the Strait of Hormuz.

The escalation followed attacks on two oil tankers in the critical waterway, prompting US President Donald Trump to state that the action was retaliation for attempts to place sea mines in the Strait and for missile fire against a US base in Jordan.

As a result, energy-linked assets rallied sharply, with WTI futures climbing above $90 per barrel, marking the highest level in over a month. The US Central Command confirmed that the strikes aimed to dismantle radar and missile systems threatening shipping.