Brent crude surges past $80/bbl with WTI above $71/bbl as US-Iran tensions escalate, injecting a $4-10/bbl risk premium.
Strait of Hormuz faces de facto closure with 20% of global oil supply at risk, driving immediate supply concerns. Implied volatility spikes 40-60% as geopolitical risk premium expands from normal 2-8% to 15-25% during acute crisis.
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Brent crude surges past $80/bbl with WTI above $71/bbl as US-Iran tensions escalate, injecting a $4-10/bbl risk premium.
Strait of Hormuz faces de facto closure with 20% of global oil supply at risk, driving immediate supply concerns.
Implied volatility spikes 40-60% as geopolitical risk premium expands from normal 2-8% to 15-25% during acute crisis.