JPMorgan Chase warns that Brent crude oil prices could spike to $120 per barrel due to a sustained disruption of oil flows through the Strait of Hormuz following recent US and Israeli military action against Iran.

USO and BNO are rated hold, with trading preferred over investing amid heightened Middle East conflict volatility. Read more on USO and BNO ETFs here.

The velocity of the rebound is particularly noteworthy — price behavior of this nature is characteristic of institutional accumulation rather than opportunistic retail buying.

Oil prices surge 13% after Iran strikes shut down Strait of Hormuz traffic. Exxon Mobil and Chevron stocks rise on expectations of higher crude prices.

Israel launched a new wave of strikes on Tehran and Iran responded with more missile barrages. Iran has said it has closed navigation through the Strait of Hormuz, prompting Asian governments and refiners to assess oil stockpiles.

Over the weekend, prices on IG Group’s retail platform jumped, with WTI trading around $75.33 a barrel, roughly 12% above the prior close, while Brent, which settled Friday at $72.48, is now back in “$100 is plausible” territory if the crisis tightens further.

Brent crude oil price hits $82 after war fears. Futures positioning, EMA golden cross, and DXY now decide the next move in oil price analysis.

With conflict raging in the Middle East yet again, there's bound to be rippling effects across the world from trade to energy. Following U.S. air strikes over Iran, the latter has retaliated by closing down the Strait of Hormuz.

Oil prices today jumped more than 10%. Brent crude crossed $80 per barrel within hours of reports that Iran struck a Saudi Aramco refinery. Traders reacted fast. They priced in supply disruption risk.