WTI crude oil futures climbed significantly in pre-market trading, rising to a four-week high above $80 a barrel. The surge is attributed to a sharp escalation in geopolitical tensions between the United States and Iran. Reports of a third consecutive night of U.S. military strikes, the reinstatement of a U.S. naval blockade on Iran, and retaliatory attacks in the critical Strait of Hormuz have ignited significant fears of a major disruption to global energy supplies, adding a substantial risk premium to prices.