Reported about 24 hours ago
Tensions escalated between Israel and Iran after an attack on Iranian military and nuclear sites, causing a surge in oil prices, with West Texas Intermediate crude nearing $73 a barrel. Analysts warn that a full-blown conflict could push prices above $100, affecting inflation rates as oil price increases could contribute to rising costs. However, a significant disruption of oil supplies, such as closing the Strait of Hormuz, is deemed unlikely. Most forecasts suggest that, barring major escalation, oil prices may stabilize as tensions ease.
Source: YAHOO