The price of oil has shot up, it hasn't been this expensive since last December

Oil prices surged on Friday, with Brent crude exceeding $117 per barrel, a level not seen since December. The increase, noted at $117.22 shortly before 6 PM, reflects a rise of 3.58%. This spike is driven by fears of escalating conflict in the Middle East, particularly following warnings from Iranian military leaders about potential responses to U.S. attacks. An Iranian official indicated that continued military operations could target oil facilities in the Persian Gulf and underwater cables, as well as AI-related infrastructure.