Crude oil prices have surged significantly due to escalating tensions between the United States and Iran, particularly after US President Donald Trump rejected Iran's terms for ending the conflict. Brent crude futures increased by 4.2%, reaching $105.54 per barrel, while West Texas Intermediate surpassed $99 per barrel. In India, MCX crude oil prices rose by 5.51% to ₹9,471 per barrel on May 11. The ongoing conflict has nearly shut down the strategically vital Strait of Hormuz, leading to major disruptions in global oil supplies and contributing to inflationary pressures. The International Energy Agency has noted that this conflict has resulted in the largest supply shock on record. Saudi Aramco's CEO, Amin Nasser, warned that market instability could persist until 2027 if shipping disruptions continue. Analysts suggest that the near-term outlook for crude oil remains cautious, with prices experiencing high volatility and sensitivity to geopolitical developments. Technical indicators show immediate resistance levels for MCX crude oil between ₹9,150 and ₹9,250, while support levels are at ₹8,800 and ₹8,500.