Oil prices volatile as US-Iran war drags on, shipping halted through key waterway

Oil and gas prices remain elevated with continued volatility as the US-Israel-Iran conflict persists and shipping traffic through a vital regional waterway near Iran stays virtually halted. No peace deal in sight. Sustained oil strength supports crude longs and energy sector equities. Elevated energy costs may pressure inflation-sensitive indices and strengthen the dollar if Fed delays cuts. Watch WTI and Brent for breakout above recent highs.