Oil prices have surged past $114 per barrel following US-Israel airstrikes on Iran and the closure of the Strait of Hormuz.
The international energy market currently faces a massive upheaval as oil prices officially surged past the hundred-dollar-per-barrel mark recently. This dramatic increase follows the escalating military fallout from the ongoing war involving the United States, Israel, and Iran. Consequently, Brent crude, the primary international benchmark, rose more than twenty percent on Sunday, hitting a peak of one hundred and fourteen dollars. Investors and economists now fear a prolonged disruption to global energy supplies as the military conflict continues to expand rapidly.
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