Global oil prices surge as US-Israel coalition conflict with Iran escalates, Brent crude exceeds $115 a barrel
As the conflict between the US-Israel coalition and Iran escalates, global oil prices have surged, marking significant market shifts. On Monday, Brent crude oil prices climbed over 3% to exceed $115 a barrel, while US-traded oil reached $103, reflecting a 3.5% increase. This increase positions Brent on course for its largest monthly gain on record, indicating growing concern about the geopolitical implications of the ongoing hostilities. The rise in oil prices coincides with stock market declines in Asia, where the Nikkei 225 index in Japan saw a reduction of 4.5%, and the Kospi in South Korea fell by 4%. Financial... [Continue Reading]
