Oil Prices Surge as Global Market Faces Supply Disruptions
The global oil market is facing significant disruptions due to ongoing geopolitical conflicts and infrastructure challenges. The US-Iran conflict has reignited, leading to threats against shipping routes such as the Strait of Hormuz. Additionally, attacks by the Houthi militia have threatened shipping through the Red Sea. Russia's refineries are also under pressure due to military actions by Ukraine. These disruptions have caused oil prices to rebound, with Brent futures crossing $100 per barrel. The market is already strained from previous supply disruptions, and the current situation is exacerbating the challenges. 
