Brent crude surged above $90/barrel (+5%). Strait of Hormuz tanker traffic collapsed from ~70-80 daily crossings to just 4-5. Iranian state TV reports fresh ship strike in Strait. UKMTO advises no transit. 8+ vessels struck since war began. 1,100+ vessels hit by GPS jamming. Reinsurers pulling war-risk cover. Global supply chains disrupted. Source: DW / Windward / Bloomberg.