Crude oil prices have surged, with some reports indicating a 6% increase, amid escalating US-Iran tensions. The price of oil has been reported to have jumped to $74 per barrel, and has settled at multi-week highs due to global supply worries. However, there are conflicting reports on the current state of US-Iran relations and the impact on oil prices, with some outlets suggesting a potential deal to end the conflict and others indicating ongoing tensions.