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Sign InU.S. crude oil prices jumped 3% in early Friday trading following the outbreak of direct military hostilities between the United States and Iran. This recent military escalation now threatens the US-Iran ceasefire agreement, which President Trump had extended indefinitely on April 21. The conflict exacerbates the ongoing Hormuz Strait crisis, which has already trapped hundreds of tankers and removed up to 10% of global supply from the market. Domestically, U.S. diesel prices remain at a critical $5.67 per gallon amid an inventory crunch now worsened by geopolitical instability. Analysts warn that direct confrontation marks a dangerous turning point for global energy security and supply chain reliability. Despite a recent 20% surge in U.S. energy exports, the market is bracing for prolonged disruptions as the previously stable ceasefire framework appears to be collapsing.