Oil prices jumped over 5% following reports of Israeli airstrikes on Iran, fueling fears of a wider Middle East conflict that could threaten global crude supply. This highlights the market’s sensitivity to geopolitical risks in a region critical to energy flows—nearly 20% of global oil passes through the Strait of Hormuz, where disruptions would sharply impact supply and prices. While high inventories and weak Chinese demand currently limit price gains, analysts warn that a broader conflict could trigger a severe oil market shock
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