Iran and Houthi forces drive a $49 oil price hike, while demand cuts trim $10. New all-time high by December 31 at 19% YES.

Oil prices surge as Strait of Hormuz transits drop 50% amid U.S.-Iran combat. Analysts warn of severe supply shocks and $120 Brent crude.

Oil prices hit a six-week high on Wednesday, with Brent crude racing past ninety-five dollars a barrel. The growing tensions between the U.S. and Iran have sparked fears of supply…