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Oil prices surge 8% as Israel strikes Iran in major escalation
Oil prices jumped over 8% Thursday night following Israel’s military strikes on Iran, marking a significant escalation in the Middle East conflict. West Texas Intermediate ( CL=F) rose to nearly $74 while Brent ( BZ=F ), the international benchmark, jumped above $75 per barrel in the aftermath of the attack.
The Iraqi foreign minister warned on Saturday that the Strait of Hormuz might be closed due to the Israel-Iran confrontation.
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Crude Prices Surge on Security Risks in IraqWednesday closed up +3.17 (+4.88%), and July RBOB gasoline (RBN25) closed up +0.0788 (+3.77%). Crude oil and gasoline prices ...
Some of the world’s largest oilfields, including in Saudi Arabia and Iraq, are also within ... to help keep prices in check. If the oil price surge is prolonged or supplies are disrupted ...
a vital shipping route for oil, is located near this region. Although the price spike initially seemed to reflect these geopolitical risks, analysts believed the surge might have been overdone.
Oil prices jumped more than 10% Thursday night after ... Exporting Countries (OPEC), trailing only Saudi Arabia and Iraq, with output exceeding 3 million barrels per day. “The most immediate ...
The death toll grew Sunday as Israel and Iran exchanged missile attacks for a third consecutive day, with Israel warning that worse is to come. Israel targeted Iran’s Defense Ministry headquarters in ...
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