The Globe and Mail reports in its Friday edition that oil prices rose more than $11 on Thursday as the market reacted to President Donald Trump's remarks that the United States will intensify its attacks on Iran, but also may withdraw before gaining control of the vital Strait of Hormuz. The Globe's Emma Graney and Jeffrey Jones write that with vessels that had already traversed the strait before the war reaching their destinations, the supply crunch is set to further squeeze countries -- largely in Asia -- that rely on oil from the region. Canada will escape the worst of the growing energy crisis, but given its large volume of crude production, it will not be spared completely. Consumers are already feeling the pinch, with pump prices in some regions topping $2 a litre. "We are not an island. We are connected to the global market," said Susan Bell at consultant Rystad Energy. Because Canadian crude is fully exposed to global benchmark oil prices, refiners will have to increase what they charge for their products to recoup their higher costs. JPMorgan said in a note that oil prices could spike as high as $130 (U.S.) a barrel near term, with a risk of surging above $150 (U.S.) if Hormuz remains disrupted into mid-May.