Oil Prices Skyrocket on Renewed US-Iran Conflict

Oil prices surged over 2% on renewed tensions between the US and Iran. The conflict has raised concerns about global oil supply and sent shockwaves through the markets.

The price increase comes as a result of the heightened geopolitical risk, which is driving up demand for safe-haven assets such as oil. Markets.com notes that trading foreign exchange and contracts for difference is highly speculative and carries a high level of risk.

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