Oil tops $107 as Strait of Hormuz disruptions escalate

Oil prices surged past $107 per barrel as ongoing disruptions in the Strait of Hormuz intensify, reflecting heightened supply risk from the Middle East conflict. The strait, a critical chokepoint for global oil shipments, faces continued threats, though the specific nature of the disruptions remains unclear. This marks a significant escalation in energy market stress, with potential global inflationary and economic implications.