Global oil prices reached $120 before falling back to $90 as President Donald Trump signaled that the US-led military campaign against Iran is nearing a successful conclusion.Strategic strikes by US and Israeli forces have reportedly crippled Iranian military assets, though the Strait of Hormuz remains largely paralyzed and regional instability persists.International leaders and energy markets remain cautious, with diplomatic initiatives from Russia and military reinforcements from France attempting to mitigate the ongoing supply chain and humanitarian crisis.The situation remains fluid as regional actors adjust to the emergence of
Mojtaba Khamenei as the new Supreme Leader amid ongoing military pressure.