Brent crude oil prices surge towards $110/barrel after Israel strikes Iran’s largest gas plant. Global oil markets are reacting sharply as supply disruptions and geopolitical risks intensify across the Middle East region. Brent crude is already trading near $108, up from around $70 just weeks before conflict escalation. WTI crude hovers near $97, while U.S. gasoline prices jumped to $3.84 per gallon recently. The surge is driven by halted tanker flows through the Strait of Hormuz, disrupting nearly 20% supply. Iran’s warning about targeting Gulf energy sites has added fresh uncertainty, pushing oil prices higher globally. Strategic reserve releases may offer short-term relief, but analysts warn supply risks remain elevated ahead.