Oil Prices Surge Past $116 as Trump Escalates Iran Conflict

Oil prices jumped more than 3 percent to $116 per barrel following renewed U.S. attacks on Iran and President Trump's threats of further escalation. This surge highlights the immediate economic impact of the conflict as global markets react to the potential closure of the Strait of Hormuz. The volatility underscores the broader geopolitical instability facing the global economy as the U.S. prepares for a decisive confrontation.