Commodities
Iran-US Tensions Spark Oil Price Surge and Travel Disruptions
The escalating tensions between Iran and the US have pushed oil prices to a new high, reaching $87.93 per barrel for Brent crude. The conflict is also causing widespread disruptions in air travel and security across the Middle East.
Iran's foreign minister, Abbas Araghchi, warned Turkey, Pakistan, and Saudi Arabia that Tehran would respond decisively to any US or Israeli 'aggression', stating they would retaliate 'decisively and proportionally'.
The State Department has urged Americans across the Middle East to consider leaving or be prepared to depart if tensions worsen. The US also warned of possible flight cancellations, airspace closures, and wider travel disruptions as regional tensions rise.