Oil prices surge more than 5% amid renewed tensions in Iran. The increase follows reports of rising instability involving the nation.

UPDATE: Brent oil prices climb over 3% after Iran's parliament speaker Mohammad Bagher Ghalibaf resigns as the nation's lead negotiator with the United States. #Oil #Iran

Brent oil prices rose more than 3% on Thursday following reports that Mohammad Bagher Ghalibaf, Iran's parliament speaker, has resigned as the country's lead negotiator with the United States.

BREAKING: US crude futures rise over $5 a barrel following reports of Iranian air defense activity over Tehran. The surge in oil prices follows unconfirmed reports of military engagements in the Iranian capital. #Oil #Breaking

US crude oil futures have increased by more than $5 per barrel following reports that Iranian air defenses are engaging targets over Tehran.

Aviation expert Anita Mendiratta warns that the U.S.-Israeli conflict with Iran has triggered a jet fuel crisis, forcing airlines to raise fares and cut operations. Full recovery is expected to take months even if military action ends immediately.

Aviation expert Anita Mendiratta states that the ongoing conflict involving the U.S., Israel, and Iran has caused a jet fuel crisis, leading airlines to increase fares and reduce flight operations. Recovery is expected to take months even if military action ceases immediately.

UPDATE: US diesel shipments arrive in Australia as the nation works to mitigate a fuel crisis stemming from the war involving Iran.

Tankers transporting diesel from the US West Coast are arriving in Australia to address a fuel shortage linked to the ongoing war involving Iran.