U.S. Strikes on Iran Push Oil Prices Above $100, Impacting Global Energy Market
Oil prices have surged past $100 a barrel following recent U.S. military strikes on Iran, which have disrupted hopes for a peaceful resolution in the Middle East. The conflict has led to a blockade of fossil fuel shipping through the Strait of Hormuz, a critical channel for global oil transport. This disruption has significantly reduced oil exports, eroding global stockpiles and increasing market volatility. Despite previous hopes for a diplomatic solution, the ongoing conflict has kept prices high, with Brent crude reaching $126 at the end of last month. Analysts warn that the market may have reached a 'point of no return,' with potential for further price increases as demand for transport fuels rises during the summer travel season. 
