Post #2716

🚨 Oil Prices Surge Over 25% Amid Middle East Conflict Global oil prices jumped sharply on Monday, rising more than 25% to the highest levels since mid-2022 as the conflict involving Israel, Iran and the United States disrupted supply. ⚓️ Strait of Hormuz under pressure – This key shipping route carries around 20% of the world’s oil, and disruptions to tanker movements have slowed deliveries, leaving Asian importers particularly exposed. 📈 Market moves – Brent crude hit $117.65 per barrel, up 27%, while U.S. WTI climbed 28.3% to $116.62. Earlier, Brent briefly touched $119.50 and WTI $119.48. ⛽️ Supply cuts – Iraq and Kuwait have reduced production, while Qatar’s LNG output has also fallen, tightening energy markets further. 👤 Geopolitical impact – The appointment of Mojtaba Khamenei as Iran’s new supreme leader reinforced expectations of continued hardline policies, adding to market uncertainty. #MiddleEast#News