Crude oil prices near $100 as Iran tightens Hormuz control, ceasefire doubts rise

Global crude oil prices surged near $100 per barrel as West Asia tensions escalated, with Brent Crude and WTI Crude rising sharply after Iran's warning on the Strait of Hormuz. Market volatility increased, dragging Indian indices lower despite mixed global equity performance trends. Brent Crude futures rose as much as 7.18 per cent to hit an intraday high of $96.87 per barrel, while US WTI crude traded at $91.20, up 8.76 per cent.