Brent crude oil prices have surged to $115 per barrel as President Trump moves to extend the US blockade against Iran in the Strait of Hormuz. This development has heightened geopolitical tensions, impacting global oil markets significantly. The Strait of Hormuz is a critical chokepoint for global oil shipments, and any disruption in this region can lead to substantial fluctuations in oil prices. The decision to extend the blockade comes amid ongoing disputes between the US and Iran, further escalating the situation in the Middle East. Market analysts are closely monitoring the situation, as prolonged tensions could lead to further volatility in oil prices.