Reported about 23 hours ago
Recent Israeli airstrikes on Iran have led to a significant surge in oil prices, with a rise of 8% amid concerns of prolonged conflict. Analysts are uncertain about the duration of this escalation and its potential impact on the Strait of Hormuz, critical for global oil exports. While they foresee possible short-term spikes in prices, especially if tensions escalate, many predict a return to lower prices in the coming months due to increased production elsewhere and reduced demand if prices soar.
Source: YAHOO