Signs of a new escalation in tensions have caused oil prices to surge. The US plans to extend its blockade of Iranian ports, while the Ayatollah regime refuses to yield on its demands, leading to renewed tension over supply reductions in the oil market. The root of the issue remains the Strait of Hormuz, which typically handles 20% of the global market. With the US and Iran imposing mutual blockades, investors fear that a stable peace agreement is becoming increasingly distant, driving up uncertainty and inflation concerns. Brent crude reached over $119 per barrel, nearing the $120 peak seen at the start of the war, while European stock markets continue to show negative sentiment.