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Oil surges over 25%, on track for record daily jump due to escalating Iran war
SINGAPORE: Oil prices surged more than 25 percent on Monday to their highest levels since mid-2022 as some major producers cut supplies and fears of prolonged shipping disruptions gripped the market due to the expanding US-Israeli war with Iran. Energy markets are particularly nervous because the crisis is unfolding around the Strait of Hormuz, through which roughly one-fifth of the world’s oil supply normally passes.
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lemonde.fr
Oil prices surge amid war in the Middle East
The price of a gallon of Brent oil has jumped by nearly 30% in a week as prospects of a longer war set in.
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bbc.com
Iran war: Oil prices jump above $100 for first time in four years
Major disruption to energy supplies threatens to push up prices for consumers and businesses around the world.
