Oil prices see sustained surge
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Traders pile into $80 US oil bets
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Ukrainian President Volodymyr Zelensky says rising global oil prices following Israeli strikes on Iran will strengthen Russia by increasing its oil revenues.
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The Mirror US on MSNFormer White House official issues six-word warning as oil prices soarA former White House official issued a chilling ultimatum to Donald Trump's administration as oil prices continue to rise in the US
A sustained rise in the price of crude oil, which jumped sharply after Israel attacked Iran, could hurt consumers and President Trump’s efforts to bring down energy costs.
Although the U.S. is a net oil exporter, higher oil prices could increase inflation and lower economic growth.
A sustained surge in oil prices is likely to complicate the U.S. fight against inflation. A $10-a-barrel increase would boost year-over-year growth in the consumer-price index by 0.5 percentage points,
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Stocktwits on MSNOil Prices Surge To 4-Month Highs On Israel-Iran Tensions: Analyst Expects Aggressive Price Revisions In H2 If Supply DragsCrude oil prices surged by more than 8% on Friday to hit 4-month highs after Israel’s attacks on Iran’s nuclear sites sparked supply concerns. Friday’s spike in crude oil prices is the largest single-day rise since Russia attacked Ukraine in 2022.
U.S. President Donald Trump expressed frustration on Thursday that oil prices have risen amid supply concerns from potential conflict in the Middle East.
Shock waves from the oil market also hit stock bourses across Asia. Read more at straitstimes.com. Read more at straitstimes.com.