After hostilities broke out in many parts of the Middle East, Iran stated that it was ready to deal with a more intense war, oil prices continued to rise, and the market was increasingly worried that energy transmission in the Strait of Hormuz would be more severely disrupted. West Texas Intermediate crude oil traded around $97 per barrel, surging 3.3% on the previous trading day, the biggest one-day gain in a week. Brent crude oil closed above $100 for the first time since July. A senior Iranian official said that in the face of the US naval blockade, Iran has no intention of backing down; if the US continues to attack Iranian territory, Iran will escalate its attacks. The war resumed in the past week, breaking the previous period of relative calm and driving up oil prices. US President Trump expects that this war will not end until the November midterm elections are over, and it will be difficult for gasoline prices to drop significantly until then. This shows that the conflict, which has entered its seventh month, shows little sign of abating in the short term.

After hostilities broke out in many parts of the Middle East, Iran stated that it was ready to deal with a more intense war, oil prices continued to rise, and the market was increasingly worried that energy transmission in the Strait of Hormuz would be more severely disrupted. West Texas Intermediate crude oil traded around $97 per barrel, surging 3.3% on the previous trading day, the biggest one-day gain in a week. Brent crude oil closed above $100 for the first time since July. A senior Iranian official said that in the face of the US naval blockade, Iran has no intention of backing down; if the US continues to attack Iranian territory, Iran will escalate its attacks. The war resumed in the past week, breaking the previous period of relative calm and driving up oil prices. US President Trump expects that this war will not end until the November midterm elections are over, and it will be difficult for gasoline prices to drop significantly until then. This shows that the conflict, which has entered its seventh month, shows little sign of abating in the short term.