Oil and gas prices are experiencing upward pressure due to escalating geopolitical tensions, particularly concerning the United States and Iran. Brent crude futures climbed $1.65 to $96.58 per barrel, while U.S. WTI crude rose $1.45 to $92.74. The Strait of Hormuz, a critical shipping route for approximately 20% of global oil and liquefied natural gas, remains a focal point of concern as disruptions continue. Falling U.S. fuel inventories and strong export demand have further tightened supply, contributing to rising prices. In Europe, Dutch gas prices increased to 42.21 euros per megawatt hour, and British gas prices reached 105.68 pence per therm. Analysts indicate that the future of these prices hinges on geopolitical developments, including ongoing peace talks and sanctions, which could either stabilize or further disrupt supply chains. Investors should remain vigilant, as energy prices are highly sensitive to political and economic shifts.