Crude Jumps 4% as Attacks in Strait of Hormuz Hit Record High

Oil prices surged 4% following a spike in attacks on shipping in the Strait of Hormuz, with ten vessels targeted last week—the highest weekly count since the conflict began. The strait, through which 27% of global oil passes, remains a critical chokepoint, and the escalation raises supply disruption risks. The attacks are part of an ongoing pattern, but the record frequency marks a notable intensification.