Global oil prices surged by over 10% following attacks on at least three ships near the Strait of Hormuz, a critical global oil and gas transit route.

• Brent crude reached over $76 a barrel, and US-traded oil was around $69.
• Attacks reportedly involved missiles and "unknown projectiles," impacting vessels flagged to the UK, US, Gibraltar, Palau, Marshall Islands, and Liberia.
• Iran has warned ships away from the strait, causing international shipping to halt and raising concerns about prolonged conflict and further price hikes.