US–Iran strikes have escalated, the first major escalation since July. Brent rose about 1% to $95.63 and WTI to $91.01 per barrel on 2 Sep 2026. Analysts say Middle East shipping and global supply risk are up. Hormuz traffic is still moving but below normal, with 4 commodity vessels against a 10-day average of about 13. A US official reported about 17 million barrels transited Hormuz on Monday, the highest since the war began in February. For a Thai SME, watch diesel and fuel surcharges on delivery, freight and raw-material costs in the coming weeks. Review fuel-cost assumptions in quotes now, and avoid locking in long fixed-price supply contracts without a fuel clause.