The Guardian Australia – Business · business
Oil prices surge above $100 as U.S. blocks Iranian shipping
2 hours ago
Oil prices surged above $100 a barrel Monday after the U.S. announced a blockade of Iranian shipping in the Strait of Hormuz. Both WTI and Brent benchmarks recorded nearly 8% gains amid heightened geopolitical tensions. Analysts warn that the situation underscores oil's vulnerability to geopolitical risks and their potential impact on the global economy.
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Summary by Glance · Original reporting by The Guardian Australia – Business
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