Iran Tensions Escalate, Boosting Oil Prices and Causing Regional Spill

U.S. Ambassador Mike Waltz suggests the conflict with Iran could persist for another year. Brent crude prices rose to $116 a barrel after Iran's Revolutionary Guard reportedly disabled seven tankers near the Strait of Hormuz, an action President Trump disputes. Separately, an oil spill off the UAE coast, linked to a tanker reportedly hit by a projectile, adds to regional instability. Saudi Aramco has increased pipeline flow to bypass the Strait.