Recent attacks by Iran on shipping in the strategic Strait of Hormuz have raised concerns of a prolonged crisis, causing oil prices to surge for the fourth consecutive day. The situation remains tense as U.S.-Iran peace negotiations collapse, with prospects for a ceasefire dimming further. Data indicates that over 80% of vessels are currently avoiding the waterway, leading to significant disruptions in oil tanker traffic. As markets brace for continued volatility, Brent crude prices have risen above $90 and WTI has surpassed $85, underscoring the growing supply fears amidst geopolitical tensions. Analysts remain uncertain as the U.S. signals no immediate resolution to the conflict, leaving the future of oil prices hanging in the balance.