Global oil prices surge to a 6-week high after the U.S. strikes Iran in Hormuz

Oil prices rallied to their highest level in six weeks following reported U.S. military action against Iran near the Strait of Hormuz, a critical shipping chokepoint for global crude flows. The move reflects traders pricing in supply disruption risk and heightened geopolitical tension in one of the world's most strategically important energy corridors. This is a momentum-driven response to headline risk rather than actual supply loss—key to watch is whether the escalation continues or de-escalates, as that will determine if the move sticks.

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