Oil surges for second day, Brent tops $83 after Iran orders Strait of Hormuz closure

Group 1 - Crude oil and natural gas futures have surged significantly due to geopolitical tensions, particularly after Iran's order to close the Strait of Hormuz and threats against tankers [1][2] - U.S. crude oil prices increased by approximately 7%, reaching $76.31 per barrel, while Brent crude rose by 7.3% to $83.39 per barrel [1] - Oil prices have risen over 14% this week as tanker traffic through the Strait has halted, impacting global oil supply [2] Group 2 - European natural gas prices have skyrocketed by more than 70% this week following Qatar's cessation of liquefied natural gas production due to Iranian drone attacks [2] - The British futures contract for natural gas increased by about 30%, while the Dutch contract rose by approximately 27% [3] - Wall Street commodities strategists have indicated that oil prices could exceed $100 per barrel if the closure of the Strait persists for an extended period [3]