Crude Above $100 as US-Iran Military Tensions Escalate

Key Details Oil prices remain elevated above $100 per barrel as military exchanges between the U.S. and Iran intensify in the fifth week of conflict. Brent crude climbed to $107.56 a barrel while U.S. benchmark crude rose to $103.71, with March seeing Brent prices jump over 40% since the war began. Stock futures rebounded in premarket trading, with the S&P 500 and Dow Jones each up 0.9%. Why It Matters The Middle East conflict is creating significant supply chain disruptions affecting fuel costs nationwide. U.S. gas prices crossed the $4 per gallon mark for the first time since 2022, putting pressure on your operating costs. Maritime traffic through the Strait of Hormuz - which handles roughly one-fifth of global oil - remains a critical chokepoint as Iran threatens to create toll restrictions. What's Next Secretary of State Marco Rubio indicated the U.S. has response options if Iran follows through on controlling the strait. European inflation jumped to 2.5% in March, reflecting broader energy cost pressures globally. Fleets should monitor fuel surcharge adjustments and supply chain impacts as geopolitical tensions continue.