Oil climbs as U.S. strikes Iran's Larak Island, raising Hormuz tensions

Oil prices jumped more than 2% after the U.S. attacked Iran's Larak Island in the Strait of Hormuz, with Brent around $90.31 and WTI near $85.23 per barrel as Tehran retaliated; traders warned of continued volatility with a likely $85–$95/bbl range until Hormuz developments become clearer and shipping traffic stabilizes.