Iran warned the world could see oil prices more than double the international benchmark as the conflict approaches the two-week mark.
Markets seesawed on Day 13 of the war in the Middle East, as two oil tankers were struck by projectiles near Iraq's southern ports and attacks between Israel and Hezbollah intensified.
Oil prices seesawed overnight on fears that Iran will attack ships in the Strait of Hormuz, even after an agreement Wednesday among nations to release a significant amount of petroleum reserves. Energy Secretary Chris Wright on Thursday morning told CNN high oil prices were a “short-term energy disruption for just huge long-term gain.” Brent crude…
The latest incidents in or near the Strait of Hormuz come shortly after Iran warned the world to prepare for $200 oil prices.
The Middle East conflict spiraled into a direct threat against the global economy this week after Iran launched attacks targeting major international infrastructure and commercial shipping lanes, while warning the world to brace for $200-per-barrel oil if the war continues. The post WAR ON GLOBAL TRADE: Iran Hits Major International Airports, Oil…
Oil prices jumped Thursday morning to over $100 per barrel as Iran continued striking ships throughout the region. The global benchmark Brent crude climbed above $100 early Thursday morning for the first time since Monday before slipping slightly to $97.81. The spike came as Iranian attacks on ships in the Strait of Hormuz and Persian ...
The two most recent attacks, apparently carried out by explosive-laden boats, hit the tankers Safesea Vishnu and Zefyros in Iraqi waters.
