Commodities
Iran Tensions Fuel Crude Oil Price Surge Past $90 Per Barrel
Crude oil prices have surged to above $90 per barrel as tensions between the US and Iran escalate. The Strait of Hormuz, a key shipping route, has seen declining flows, contributing to supply concerns.
The global inventory levels are also at their lowest in years, putting additional pressure on crude oil prices. As a result, Brent Crude Oil Prices have jumped 3.5% this week, sparking concerns about the impact on energy markets and economies worldwide.