Global Oil Prices Jump More Than 8% on Worsening US Iran War

Global oil prices surged over 8% on Friday due to escalating tensions between the US and Iran, sparking fears of Middle East supply disruptions. Other reports note a jump of over 3% linked to instability in the Strait of Hormuz. Such volatility threatens to disrupt energy markets significantly, heighten global inflation, and strain international economies. The rising costs reflect growing concerns over the stability of energy supplies amid the worsening US-Iran conflict.