Brent crude surges above $95 a barrel on renewed US-Iran fighting

Brent crude rose to $95.47 a barrel and WTI to $90.72 amid fresh US-Iran hostilities near the Strait of Hormuz, extending a 4.6% rally after Trump ordered strikes on Iranian targets over alleged sea mines and a missile attack on a US base in Jordan. Vessel crossings through Hormuz fell sharply, from 23 the prior Wednesday to about 5 on Tuesday.

Why this matters. A sustained drop in Hormuz vessel crossings toward single digits signals shippers are actively rerouting or halting transits, which would tighten global crude supply and could force further price spikes if the corridor closes further.