Oil Jumps to $116 a Barrel on Signs of Escalation of Middle East War

Crude oil surged to $116 a barrel as markets reacted to escalating military tensions between the U.S. and Israel against Iran. The conflict has disrupted critical energy supplies, intensifying concerns about global oil availability and prices. Investors are pricing in potential further damage to Middle Eastern energy infrastructure and possible Iranian retaliation that could worsen supply constraints. Oil's rise reflects broader market anxiety about the conflict's trajectory and its ability to cripple energy flows from one of the world's most strategically important regions. Energy markets remain sensitive to any signs of widening hostilities or threats to shipping routes and production facilities.