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Global Oil Prices Surge After Israel-Iran Conflict Escalates

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Global Oil Prices Surge After Israel-Iran Conflict Escalates
Global Oil Prices Surge After Israel-Iran Conflict Escalates
MarieBy

Global Oil Prices Surge After Israel-Iran Conflict Escalates

By Marie

Oil prices have spiked following the latest military exchanges between Israel and Iran. Brent crude rose more than 10%, reaching its highest level since January.

Vandana Hari of Vanda Insights said: “It’s an explosive situation, albeit one that could be defused quickly. It could also spiral into a bigger war that disrupts the Mideast oil supply.” Katrina Ell, Moody’s Analytics head of Asia Pacific economics, warned: “This comes at an unfortunate time for the global economy given the already heightened uncertainty.” Also Read: Mexico Expresses Concern Over U.S. Steel Tariffs

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