Reports of potential Israeli military action against Iranian nuclear facilities sent oil prices surging on Wednesday, adding a layer of geopolitical risk to an already volatile market. The price increases reflect the immediate concerns about potential supply disruptions from Iran, which supplies roughly one-third of global crude production. The possibility of such a conflict comes at a particularly sensitive moment in ongoing nuclear talks between Iran and the US, with both parties facing significant hurdles. This development has fueled uncertainty and volatility within energy markets, prompting market analysts to reevaluate existing bearish fundamentals for oil.