Crude oil prices edged up on September 3 amid escalating Middle East tensions, with Iran's military striking U.S. bases and Israel signaling readiness to retaliate. Shipping disruptions in the Strait of Hormuz are expected to persist beyond year-end, affecting global supply. Additional concerns include Ukraine's attacks on Russian oil infrastructure and Chevron's $7 billion Venezuela expansion plan. For Thai SMEs reliant on energy imports or logistics, sustained price volatility and shipping delays pose near-term cost pressures.