US escalation of Iran sanctions and threats to control the Strait of Hormuz are driving crude oil prices higher (WTI +$1.15 to $82.40/barrel, Brent +$1.45 to $88.52/barrel). Ongoing attacks on vessels and geopolitical tensions in the Strait create sustained upside pressure on energy costs. Limited peace prospects suggest this risk premium will persist, directly impacting fuel import costs for Thai SMEs and manufacturers dependent on stable energy prices.