Oil prices surge on war

Brent crude and WTI benchmarks both saw significant gains as investors reacted to President Trump's ultimatum to Tehran.

OPEC+ has announced a symbolic increase in output quotas, but analysts warn that policy ammunition to contain the economic fallout is nearly exhausted.

The energy crunch is driving fuel rationing in several nations and significantly increasing operational costs for global airlines.

Markets remain volatile as the deadline for reopening the vital shipping route approaches.