Oil Price Spike Masks Deeper Tensions in the Middle East The sudden jump in oil prices following the US military's "powerful strikes" against Iran has sparked alarm across global markets.
Behind this economic tremor lies a complex web of geopolitics and regional tensions that threaten to upend the fragile ceasefire negotiated by Washington just last month.
For months, the Strait of Hormuz has been a flashpoint for Iranian aggression and US countermeasures. The attack on three commercial vessels in June was only the latest episode in this unfolding drama.