# Brent

Middle East Escalation Sends Oil and Gold Surging as Hormuz Shuts Down

A sudden escalation in hostilities between Iran and US/Israeli forces has spiked oil and gold prices after Tehran effectively halted traffic through the Strait of Hormuz. The resulting supply risk pushed Brent and gold sharply higher, while OPEC+’s planned modest output increase is unlikely to offset a large-scale disruption.