Crude oil prices have spiked past the £60-a-barrel threshold as geopolitical tensions ignite anew, following President Donald Trump's declaration that the ceasefire with Iran is 'over'. This abrupt diplomatic collapse has sent global markets into a tailspin, with investors bracing for a potential blockade of the Strait of Hormuz, the world's most critical maritime energy chokepoint.
As the US resumes military strikes against Iranian targets in retribution for attacks on commercial shipping, the resulting economic shockwaves have triggered a sharp sell-off across international stock indices. The sudden reversal of stability has reignited fears of supercharged inflation, forcing markets to confront the stark reality of a worsening regional conflict that threatens to derail both energy security and global economic growth.
