Iran conflict sends oil up 9%, stock futures down; Hormuz Strait traffic halved

War in Iran pushed Brent crude to $79.48 (+9.1%) and WTI to $72.51 (+8.2%) as traders fear Strait of Hormuz disruptions. Stock futures tumbled on geopolitical risk. The strait normally handles 20% of global oil and LNG; ship traffic already cut in half. Expect continued volatility in energy and equity indices.