U.S. forces launched a second strike on Iran after President Trump ended an eight‑week ceasefire. The move revived fears that the Strait of Hormuz could close, a corridor that carries about 20% of global oil. Asian equity markets mixed, but oil prices spiked.

Front‑month West Texas Intermediate futures rose 0.9% to $74.20 per barrel, while Brent futures climbed 1.0% to $78.78. The uptick pressured government bonds across the Asia‑Pacific, as higher oil costs fed inflation worries.

Energy traders see a sharp rise in shipping and refining margins if tanker traffic slows. Companies that rely on steady supply lines, such as LNG providers, may face higher hedging costs. Investors should monitor the Strait’s throughput and U.S. diplomatic moves.

Analyst Vivek Dhar noted that the U.S.-Iran memorandum of understanding had previously lifted price optimism. With the agreement terminated, Brent futures now stand to benefit from any disruption. Market participants should weigh this risk against broader geopolitical trends.