Suspense crime, Digital Desk : Global oil prices surged on Friday as escalating tensions between Iran and Israel sent a wave of anxiety through financial markets. Traders are growing increasingly concerned that the volatile situation could erupt into a broader regional conflict, threatening critical energy supplies from the Middle East.

The price jump is a direct reaction to fears of a major supply disruption. Iran is the third-largest producer within the Organization of the Petroleum Exporting Countries (OPEC), and any direct conflict could severely impact its ability to export crude oil. This would tighten the global supply and drive prices even higher.

Market analysts are particularly worried about the security of the Strait of Hormuz, the world’s most important oil chokepoint. A significant portion of global seaborne oil shipments passes through this narrow waterway, and any blockade or military action in the area could have a catastrophic effect on the world’s energy market.

This growing geopolitical risk was immediately reflected in market prices. Brent crude, the international benchmark, jumped over 1% to trade above $90 a barrel. Similarly, West Texas Intermediate (WTI), the U.S. benchmark, also saw a significant increase, signaling a nervous market bracing for potential instability.

This price volatility has far-reaching consequences beyond the trading floor. Sustained high oil prices lead to increased costs for transportation and manufacturing, which can fuel global inflation and ultimately mean higher fuel prices for consumers at the pump. As the situation in the Middle East remains on a knife’s edge, the energy market is preparing for a period of continued uncertainty.

Read More: Global Oil Prices Spike as Fears of Wider Middle East Conflict Grow