Crude oil prices continue to rise, with Brent approaching $105 per barrel, while WTI is trading around $98. The price increase reflects heightened tensions in the Persian Gulf.

Iran has intensified attacks on energy infrastructure, targeting the Shah oil field in the UAE and Iraqi facilities. Maritime traffic through the Strait of Hormuz is "almost completely halted."

More and more countries are rejecting President Trump's request to join the operation to open the strait. Analysts from JPMorgan warn that transport will become "increasingly conditional," with Iran selectively allowing ship passage based on geopolitical affiliation.

Trump postponed the summit with China to focus on the conflict with Iran and announced plans to release strategic oil reserves, which temporarily pushed prices down before tensions reversed the trend again.

The disruptions have serious global consequences, as about one-fifth of the world's oil passes through the Strait of Hormuz.