Recent geopolitical developments have significantly impacted oil prices, with Brent crude oil rising above $90 per barrel as fears over supply disruptions persist. The situation in the Strait of Hormuz is critical, following a series of tanker attacks that have slowed shipping traffic to a near standstill. Iran has ruled out extending interim deal negotiations, further escalating risks in the region. As tanker seizures and military threats loom, LNG tankers are reportedly resorting to rare ship-to-ship fuel transfers to navigate the strained supply chain. Analysts note that the escalation of conflicts and uncertainties surrounding US-Iran relations are driving oil prices higher, prompting market watchers to reevaluate their expectations for future stability in supply chains. The ongoing struggles to restore normal traffic levels and address geopolitical tensions continue to weigh heavily on global oil markets.