US-Iran War: Oil Soars Above $110 As Iran War Sparks Global Market Panic
The escalating war involving Iran, United States, and Israel is sending shockwaves through global financial markets. Oil prices have surged above $110 per barrel for the first time since 2022, as disruptions to Middle East energy supply rattle traders worldwide. The surge comes as production cuts from Gulf countries and disruptions near the Strait of Hormuz threaten nearly 20% of the world’s oil shipments, raising fears of a prolonged energy crisis.
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