The energy sector is rallying sharply in pre-market trading, driven by a significant spike in crude oil prices. Both Brent and WTI crude futures jumped over 3% following reports of military strikes between the United States and Iran in the Strait of Hormuz, a critical chokepoint for global oil supply. This escalation has reignited fears of a wider conflict that could disrupt oil production and transit, leading to a geopolitical risk premium being priced into energy markets.