Crude Oil Surges: Iran Crisis Fuels Price Hike, Domestic Market Pressure Looms

• Crude oil prices surged by up to 6% due to the Iran crisis, potentially pressuring the domestic market.
• Iran warned global prices could reach $200; Brent crude hit $93.15 per barrel.
• New attacks on ships in the Strait of Hormuz escalated supply disruption fears.
• IEA proposed a record 400 million barrel oil release, but analysts deem it insufficient.
• 14 ships targeted in Strait of Hormuz since US-Israel attacks on Iran began on Feb 28.