Oil prices surged as investors braced for the reopening of US markets after US military strikes near Iran's Kharg Island export hub raised fears of supply disruptions. The attacks on Iran's critical oil infrastructure sent crude futures climbing in overnight trading, with traders assessing the potential for broader Middle East conflict to choke off key supply routes.

Kharg Island handles the majority of Iran's crude exports, making it a strategic target in any escalation of regional tensions. The strikes come amid already elevated oil prices due to OPEC+ production cuts and strong global demand. Market analysts warn that sustained disruptions to Iranian oil could push prices even higher, particularly if the conflict spreads to other major producers in the Gulf.

Energy traders are now closely monitoring diplomatic developments and potential retaliation from Iran. The situation underscores how geopolitical flashpoints in the Middle East continue to create volatility in global oil markets, with even the threat of supply disruption enough to move prices. Investors in energy stocks and commodities are preparing for a turbulent trading session as the conflict's economic fallout unfolds.