Oil jumps on Iran US ceasefire claim as Strait of Hormuz tensions flare

A single allegation sparks a crude shockwave

Iran’s military accused the U.S. of violating a ceasefire, alleging attacks on ships in the Strait of Hormuz and strikes on civilian areas. The renewed escalation risk is rattling energy markets, helping drive sharp gains in U.S. crude benchmarks like West Texas Intermediate. Traders are pricing in further disruption to Middle East supply routes.