Oil prices jump over 5% as US strikes Iran

Published by NewsBytes on

Category: Global

Global oil prices have witnessed a sharp spike, with Brent crude rising by 5.49% to $75.94 per barrel and US West Texas Intermediate (WTI) crude increasing by 2.84% to $72.44 per barrel in early trade today. The surge follows a series of US military strikes against Iran and fears over the security of shipping through the Strait of Hormuz, a major energy chokepoint.

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