Oil climbs 5% as Hormuz deal reports conflict with Iranian attack claims

Oil prices climbed sharply, with Brent rising as much as 5% amid conflicting reports involving a Hormuz deal and Iranian attacks, intensifying supply concerns. The surge reflects market sensitivity to Middle East tensions. Reports of a potential agreement on Hormuz conflicted with unverified claims of Iranian attacks, leaving traders uncertain about crude supply stability. The price jump also pushed energy stocks higher, contributing to a broader market decline. The reports follow recent geopolitical volatility in the Strait of Hormuz, a key oil shipping route. Investors also await Friday's U.S. jobs report, which could influence Federal Reserve policy and further impact markets.