Middle East Escalation Drives Oil Fears as US Reports Iranian Mines in Strait of Hormuz

Key TakeawaysOil prices face extreme volatility as Commonwealth Bank of Australia (CBA) warns Brent crude could surge to $150 per barrel if regional disruptions in the Middle East are prolonged.The US military reports Iran has deployed approximately 10 naval mines in the Strait of Hormuz, significantly threatening global energy transit after two tankers were attacked in Iraqi waters.The financial cost of the conflict is mounting rapidly, with the Pentagon reporting that the first week of hostilities has exc ...