Oil prices climbed above $95 a barrel as renewed US-Iran hostilities threatened disruption through the Strait of Hormuz. Brent crude settled at $94.65 before briefly reaching $95.52, while West Texas Intermediate rose above $90. The surge followed US airstrikes on Islamic Revolutionary Guard Corps targets and warnings that shipping restrictions could tighten. Iran’s president continued to signal openness to diplomacy, but talks appeared stalled. The waterway carries roughly one-fifth of global oil consumption, raising fears of higher prices and inflation
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