- Oil jumped about 3% on Monday, with Brent crude topping $90 a barrel after a big weekly rally — a quick market shock you might notice at the pump.
- The conflict between the U.S. and Iran has escalated, with strikes and a de facto naval blockade disrupting traffic in the Strait of Hormuz.
- Fewer ships are transiting the strait and analysts warn supplies and inventories are tight, which could keep energy prices volatile.
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