Oil Surges Above $110 | Prices Up 90% Since December Amid West Asia Tensions
Global investors are bracing for heightened market volatility as geopolitical tensions in West Asia escalate, impacting oil shipping routes and critical infrastructure. As a result, oil prices surged above $110 per barrel for the first time since July 2022, marking a dramatic 90% increase since the December lows. The spike recalls the last major energy crisis when Russia invaded Ukraine, sending Wall Street stock futures crashing and reigniting concerns about global inflation and energy security.
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