Brent Crude Surges Past $110 as Iran Vows Escalation in 'New Ways'

Brent crude spiked above $110/bbl after Israel struck South Pars and Iran vowed to escalate against Gulf energy infrastructure. Prices have surged roughly 80% since the conflict began, driven by the near-total shutdown of tanker traffic through the Strait of Hormuz. IRGC naval commander Tangsiri warned that oil facilities 'associated with America' would come under fire.