Brent crude futures jumped over 5% to $95.46 per barrel on April 20, 2025, as renewed US-Iran tensions threatened to unravel the fragile ceasefire. The Strait of Hormuz, handling one-fifth of global petroleum, faces potential disruption.

Energy Secretary Jennifer Granholm warned gasoline prices could stay above $3 per gallon through next year. OPEC indicated readiness to increase production, though spare capacity remains limited.