Oil Prices Surge Amid Escalating U.S.-Iran Tensions, Sparking Supply Fears

West Texas Intermediate (WTI) crude oil surged 2.54% to $95.39 per barrel, while Brent crude jumped 2.96% to $100.8 per barrel, driven by an escalating military conflict between the U.S. and Iran. This geopolitical development has sparked supply fears in the Middle East, leading to increased caution among oil traders regarding longer-term positions.