OIL JUMPS AS MIDEAST WAR CHOKES SUPPLY Brent Crude climbed above $83 a barrel as the escalating conflict involving Iran disrupted energy flows across the Middle East. The biggest concern is the Strait of Hormuz, where tanker traffic has plunged over 95% as shipowners avoid the route despite insurance being available. The chokepoint normally carries about 15 million barrels of oil per day, according to the International Energy Agency. Governments and refiners are scrambling to protect supplies. China has told refiners to halt fuel exports, while companies in Japan and India are seeking emergency measures. Analysts warn prices could spike further if attacks hit tankers or energy infrastructure. Meanwhile, diesel prices in Europe have already surged more than 40% since the conflict began.(*Walter Bloomberg)