Oil surges over 25%, on track for record daily jump due to escalating Iran war

Oil prices surged more than 25% 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 U.S.-Israeli war with Iran. Energy markets are particularly nervous because the crisis is unfolding around the Strait of Hormuz, through which roughly […]


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