The Guardian Australia – Business · business
Oil prices surge above $100 a barrel amid geopolitical tensions
2 hours ago
Oil prices surged above $100 a barrel on Monday after failed US-Iran talks and President Donald Trump's announcement of a blockade of the strait of Hormuz. Brent crude rose nearly 7% to $101.74, while US crude climbed over 8% to $104.69. Analysts warned that the situation could lead to significant inflationary pressures on the global economy.
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Summary by Glance · Original reporting by The Guardian Australia – Business
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