Commodities
Oil Prices Plummet Then Surge Amid Escalating US-Iran Tensions
Oil prices dropped by 7.4% last week but rebounded after US-Iran missile strikes.
The November Brent crude futures fell to $88/barrel after a two-week rise of 13%, due to an increase in ships passing through the Strait of Hormuz, but then rose again by 2.2% on Monday to $90/barrel following US strikes on launchers and Iranian attacks on US bases.
A supertanker caught fire after being hit with naval mines in the southern part of the strait, while Goldman Sachs reported an increase in oil exports from the Persian Gulf to 15-16 million barrels per day.