Oil Prices Jump Nearly 10% Amid Tensions

International crude oil prices surged by nearly 10% on Tuesday, marking the largest single-day increase since 2020. The rise reflects market expectations that the U.S. will reimpose sanctions on Iran, a significant oil producer.

President Trump announced his intention to reinstate U.S. blockades, a move that could significantly disrupt global oil supply. Traders are betting that the strait will not return to normal operating conditions amid these geopolitical developments. The market's reaction indicates a belief that the anticipated sanctions will lead to a sustained tightening of crude availability on the international market.