Oil Price Surges as Middle East Tensions Escalate - What Traders Need to Know
Brent crude oil prices have surged above $91 following an attack on a vessel in the Strait of Hormuz and the expiration of a US-Iran ceasefire. The volatility highlights the sensitivity of global energy markets to geopolitical tensions in the Middle East.
Why it matters
Escalating conflict in a critical maritime chokepoint threatens global oil supply chains and increases economic uncertainty.
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