Oil prices have hit new wartime highs, with Brent crude surpassing $126 a barrel amid escalating tensions in the Iran conflict. Reports indicate that former President Trump is considering an extended blockade of Iranian ports, further stoking fears of supply disruptions. As U.S.-Iran talks stall, the market reacts with fluctuations, reflecting unease over potential military actions and the impact on global oil demand. The ongoing situation continues to influence stock markets, with a split in responses as concerns about inflation rise alongside soaring oil prices.