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Commodities

Trump Vows Retaliation as Oil Prices Soar Above $90 a Barrel

Guavy AI Editorial Team
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Oil
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Global oil prices surged on Wednesday after President Donald Trump vowed to retaliate against Iran for an overnight missile attack.

The benchmark index for worldwide crude prices climbed more than 7% to above $90 a barrel, while major stock indexes tumbled with the Dow Jones Industrial Average plummeting 710 points or 1.3%.

Oil prices account for a large share of the price of auto gasoline, and the average price of a gallon currently stands at $4.09, marking a 37% jump since war broke out in late February.

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