Crude oil surges 5-6% after US strikes on Iran's Chabahar port

Oil prices jumped sharply in early Asian trading Thursday after the United States launched military strikes on Iran's strategic port of Chabahar. Brent crude climbed 5.20% to $78.02 a barrel, while West Texas Intermediate (WTI) rose 1.41% to $74.56. Murban crude, Abu Dhabi's flagship export grade, surged 6.67% to $73.57. The attack marked the first US military operation in the area since the April ceasefire and expanded the conflict beyond the Strait of Hormuz, a vital chokepoint through which roughly one-fifth of the world's oil supply passes. Markets reacted to the possibility that Iran could retaliate by targeting regional energy infrastructure or commercial shipping routes. Analysts said markets are closely watching whether Iran responds directly against US forces or attempts to interfere with maritime traffic. The breakdown of the April ceasefire has revived fears that renewed military exchanges could tighten global crude supplies, increase freight and insurance costs, and add upward pressure to inflation worldwide.