Tensions in the Strait of Hormuz escalated as the US continued military strikes against Iranian targets, while the IRGC threatened global energy lifelines. The Trump administration is reportedly considering major offensive options, including strikes on Iranian nuclear facilities, and has increased military support to Israel with additional refueling planes. Consequently, Brent crude prices surged over 4% to nearly $88 a barrel as tanker traffic in the Strait hit a three-week low and emergency reserves were significantly depleted.
