Oil prices surge past $100 as U.S.-Iran tensions escalate
Crude extended gains Wednesday amid concerns over potential Middle East supply disruptions.
Oil prices climbed past the $100 mark Wednesday as escalating U.S.-Iran tensions raised concerns over further disruptions to Middle East energy supplies, according to CNBC.
The price surge reflects market worries that the tit-for-tat strikes between the two nations could affect oil production or shipping through critical regional chokepoints.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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