The ongoing conflict between the United States and Iran has intensified, sending shockwaves through global energy markets. Brent crude oil has surged to a four-year high as Washington maintains its blockade on Iranian oil exports and rejects Tehran’s proposal to reopen the strategically vital Strait of Hormuz.

The economic impact has been significant, with the war’s cost reportedly reaching $25 billion. American consumers are feeling the pinch at the pump, as U.S. gas prices have climbed to unprecedented levels.

The Strait of Hormuz, through which approximately one-fifth of global oil shipments pass, remains a critical flashpoint in the conflict.