Recent geopolitical tensions between the U.S. and Iran have led to significant fluctuations in oil prices, with prices spiking as Iran restricts access to the Strait of Hormuz. Investors are reassessing risks ahead of a pending ceasefire deadline, while news of U.S. military actions against Iranian vessels has further complicated peace talks. Speculators have witnessed oil prices climbing back above $95 a barrel amid fears of supply disruptions, causing market volatility. As prospects for a resolution remain uncertain, traders are on edge, scrambling to secure crude oil amid the ongoing crisis.