Crude oil prices surged nearly 9% last week due to escalating Middle Eastern conflicts, marking the largest weekly gain since March 2023. Analysts suggest that OPEC+ spare capacity and US production may mitigate immediate supply shocks, but long-term disruptions are possible. Oil prices retreated slightly in early trading on Monday. Rising tensions, particularly between Israel and Iran, have heightened fears of supply disruptions. Iran's oil production is at a five-year high, and geopolitical risks are influencing market sentiment, with energy and defense stocks benefiting.