Oil prices surge as conflict in Iran escalates
pre-market1 source ↓written by the desknot a recommendation
- a barrel
- $106.12
- $101.53
- critical passage
- 20% of global oil supply
Oil prices surged to their highest since July 2022, with Brent crude up 2.9% to $106.12 a barrel and US oil rising 2.6% to $101.53. The ongoing war in Iran has disrupted oil flows through the Strait of Hormuz, a critical passage for 20% of global oil supply. The situation may lead to prolonged volatility in oil markets.
Not investment advice. For informational purposes only.