US-Iran Tensions Escalate, Threatening Hormuz Shipping and Raising Oil Prices

Intensifying conflict between the U.S. and Iran has led to tanker strikes and Iranian threats of a new exclusion zone in the Strait of Hormuz. These disruptions have pushed Brent crude prices to nearly $97 a barrel, impacting global oil supplies. The United Arab Emirates has warned against its energy exports being held hostage, developing alternative trade routes.