WTI crude oil futures have crossed the 2% alert threshold due to a significant escalation in the military conflict between the United States and Iran. [3, 7, 9] Renewed airstrikes and retaliatory attacks have heightened fears of a wider conflict that could disrupt global oil supplies, particularly through the critical Strait of Hormuz shipping lane. [1, 8] This geopolitical risk premium is the primary driver of the price surge, with traders closely watching for any further military actions that could impact tanker traffic and crude availability from the region.