Oil prices are edging higher as renewed hostilities between the United States and Iran increase concern about possible energy-supply disruptions. Brent crude, a benchmark for global oil prices, has settled 1% higher in recent sessions. The escalation has increased geopolitical risk around the Strait of Hormuz, a strategic chokepoint for global oil shipments, and appears to have lifted the premium investors pay for crude. Prediction-market pricing shows reduced YES odds for oil reaching a new all-time high by September 30, while the market for December 31 remains more supportive of that outcome. OPEC and the International Energy Agency will be important to watch, particularly for production-adjustment announcements and further developments in the Middle East. The period through December could indicate whether tensions produce a sustained oil-price increase and shift the odds toward a new all-time high by year-end. Vera provides live prediction-market analysis and invites users to sign up.