Oil Prices Surge to $110 Per Barrel Amid Geopolitical Tensions

• Oil prices surged to $110 per barrel, the highest since May.
• The increase is driven by escalating attacks in the Strait of Hormuz by Iran.
• Ukraine's conflict with Russia also impacts global energy markets.
• U.S. crude oil prices rose sharply on Friday.
• This is the first time oil prices have reached $110 per barrel since May.