Brent and WTI crude oil prices rose over 1% following escalated military conflict between the US and Iran, with fresh strikes on Iranian coastal facilities and Iranian retaliation against US bases. Supply concerns are elevated: US crude inventories fell 4.5M barrels (more than expected), though transit through Hormuz Strait remained steady at ~17M barrels on the latest day. Thai SMEs and enterprises dependent on energy costs face immediate margin pressure as geopolitical risk premiums persist.