The global oil market is experiencing unprecedented volatility, with prices surging above $90 per barrel due to escalating tensions in the Middle East, particularly the conflict involving Iran. This week, U.S. crude oil recorded its largest weekly price jump on record, with futures skyrocketing nearly 36%, marking the biggest gain in futures trading history since 1983. The surge has raised inflation fears and prompted speculation over potential production cuts as disruptions in the Strait of Hormuz continue. Analysts are closely monitoring the situation, with WTI crude reaching a 20-month high and Brent crude exceeding $92, illustrating the growing geopolitical risk premium and its impact on global energy markets.