Global energy markets are in turmoil after US President Donald Trump declared the highly anticipated US-Iran ceasefire deal officially “over.” The sudden escalation follows a series of fresh drone and missile attacks targeting oil tankers near the strategic Strait of Hormuz shipping lane. As the US military launches a second wave of retaliatory airstrikes on domestic Iranian infrastructure, Brent crude benchmarks spiked sharply past $80 a barrel, sparking widespread global concerns over localized summer energy bill spikes and renewed maritime shipping bottlenecks.
