Brent crude futures remained above $100 a barrel as Iran escalated attacks on key energy infrastructure across the Middle East. The price spike reflects growing concerns about supply disruptions in a region that accounts for roughly one-third of global oil production. Market volatility intensified as traders weighed the potential for further escalation in the conflict.

U.S. allies in the region rejected former President Trump's call to help reopen the Strait of Hormuz, a critical shipping lane through which approximately 20% of global oil flows. This diplomatic pushback suggests a more cautious approach to regional security, potentially leaving key chokepoints vulnerable. The Strait's closure could remove up to 17 million barrels per day from global markets.

Energy markets are particularly sensitive to Middle East tensions given the region's concentration of oil reserves and production capacity. With Brent crude hovering near $100, consumers face higher fuel costs while energy companies see profit opportunities. The standoff highlights the delicate balance between geopolitical stability and energy security in an increasingly volatile global market.