Oil prices surge past $100

The failure of high-stakes diplomacy in Pakistan has sent shockwaves through global energy markets, with Brent crude jumping over 7% to reclaim the $100 mark.

Investors are bracing for a deep oil shock as the U.S. Navy prepares to implement a blockade in the Strait of Hormuz, a chokepoint for 20% of the world's supply.

Analysts warn that fuel prices could remain elevated through the U.S. midterm elections, complicating efforts to control domestic inflation.

Energy-dependent economies in Asia, particularly India and Thailand, are expected to face significant currency pressure and rising import costs.