Commodities
Middle East Violence Sends Oil Prices Soaring Amid Global Supply Jitters
Escalating violence in the Middle East is causing oil prices to spike as investors become increasingly nervous about global supply chain disruptions.
The conflict has been ongoing for weeks, but recent events have heightened concerns that crude oil production will be affected.
Oil markets are already volatile due to various factors, including the ongoing COVID-19 pandemic and a lack of new discoveries to replace dwindling reserves.