Oil and gas prices have recently increased due to escalating tensions in the Strait of Hormuz, where container ships were attacked, raising fears of supply disruptions. Brent crude futures surpassed $100 per barrel, while West Texas Intermediate futures also rose. The Strait of Hormuz is vital for global oil and liquefied natural gas (LNG) shipments, and any disruptions can significantly impact prices. Reports indicate that US crude inventories fell by 4.5 million barrels, reflecting strong demand as traders react to potential supply shortages. In Europe, gas prices have risen amidst uncertainty regarding pipeline operations and the ongoing conflict involving Iran and the United States. Analysts suggest that market movements are primarily driven by risk perceptions rather than actual supply losses. The future trajectory of oil and gas prices will depend on geopolitical developments, including the success of ceasefire talks and the reopening of shipping routes. Investors are advised to stay alert to inventory reports and geopolitical updates, as volatility is expected to continue in the short term.