Oil prices surge as Gulf conflict escalates
after close1 source ↓written by the desknot a recommendation
- on Monday
- 9%
- crude rising
- 9.4%
- per barrel
- $78.14
- and Brent
- 9.6%
- $83.30
Oil futures surged nearly 9% on Monday, with U.S. crude rising 9.4% to $78.14 per barrel and Brent up 9.6% to $83.30. This spike follows renewed conflict between the U.S. and Iran, impacting the vital Strait of Hormuz, crucial for oil shipping. Equities fell as bond yields rose amid heightened geopolitical tensions.
Not investment advice. For informational purposes only.