Oil Surges to $114 Following Iranian Strikes on UAE Port

A fragile four-week ceasefire between the United States and Iran appears to be on the brink of collapse following a violent exchange of fire in the Persian Gulf on Monday. The flareup drew in the United Arab Emirates (UAE) and sent global oil prices soaring as threats to the strategic Strait of Hormuz intensified. US Central Command (CENTCOM) reported that American forces fought off an array of Iranian drones, missiles, and small boats while facilitating the passage of two US-flagged vessels. President Donald Trump confirmed via Truth Social that…