Commodities
US-Iran Hostility Sends Oil Prices Soaring Amid Global Uncertainty
Hostility between the US and Iran escalated on Thursday as tensions flared during a heated exchange at the UN General Assembly. The confrontation saw oil prices surge, with Brent crude rising above $100 a barrel.
The increase in oil prices reflects growing concerns over potential conflict and disruptions to global energy supplies. Meanwhile, share prices declined in response to the heightened uncertainty.
US President Donald Trump welcomed Chinese counterpart Xi Jinping to Washington on Wednesday for a three-day visit, likely to have significant implications for the situation in Iran.