Oil prices jumped sharply on Friday, with Brent crude exceeding $90 a barrel for the first time since June. This surge follows recent strikes in Iran and a reported incident involving shipping in the Strait of Hormuz, a critical waterway for global oil transport. The strikes have raised concerns about potential disruptions to oil supply from the region. The incident in the Strait of Hormuz further exacerbated these anxieties, prompting fears of escalating tensions and potential blockages. Market analysts suggest that the price increase reflects a growing risk premium as investors react to the heightened geopolitical uncertainty. The situation is being closely monitored for further developments that could impact global energy markets and prices. This price increase could affect fuel costs worldwide.