Brent Crude Surges Above $105 Amid Middle East Tensions

Brent crude oil prices surged above $105 a barrel, marking an approximate 20 percent increase within a single week. The price spike resulted from escalating tensions in the Middle East and disruptions in the Strait of Hormuz, a critical energy chokepoint.

In the United Kingdom, the energy shock triggered panic buying at fuel stations, leading to a sharp rise in automotive fuel sales. According to market analysts, these rising costs have increased the price of gas, fertilizer, and manufacturing materials, which is expected to reduce UK household spending in the coming months.

Despite these inflationary pressures, U.S. equity markets remained resilient, supported by strong performance in artificial intelligence infrastructure stocks.