Crude Oil Surges As U.S.-Iran Flare-Up Intensifies, Leaving Hormuz Reopening Uncertain

Crude oil prices jumped on Wednesday, extending gains after the U.S. launched a second round of attacks against Iran and Iran signaled forceful retaliation. The news raises concerns about a drawn-out Gulf war, adding geopolitical risk premium to energy prices. The move is likely to affect oil-linked equities and broader risk sentiment.