MIDDLE EAST TENSIONS DRIVE SHARP OIL MARKET SURGE

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MIDDLE EAST TENSIONS DRIVE SHARP OIL MARKET SURGE

WTI crude projected to reach $94.10 by year-end, a $21 weekly spike, per Kalshi markets.

Iran's halt of U.S. nuclear talks, citing Israeli airstrikes, fuels the surge. Rising risks of regional conflict and disruptions to the Strait of Hormuz, handling 20% of global oil, are driving market fears.

Analysts caution that a complete strait closure could send prices soaring to $120–$150 per barrel.

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