Oil prices have jumped significantly, rising more than 7% following reports that Iran has suspended negotiations with the U.S. and could fully close the Strait of Hormuz. The escalation in military exchanges between the two nations has raised concerns in the markets, leading to a spike in oil prices, which have surpassed $97 a barrel. U.S. stock markets are experiencing mixed reactions as investor sentiment is weighed down by ongoing tensions in the Middle East. Analysts predict a potential crisis could drive oil prices even higher, with estimates suggesting they could reach $180 in the coming months. As investors react to these developments, both energy stocks and European natural gas prices are also on the rise.