Oil Prices Spike Amid US-Iran Tensions
Oil hit a 4-year high of $126/barrel over fears of US strikes on Iran & hypersonic missiles in the Middle East, then pulled back slightly. Prices are up ~60% since the Iran conflict began, with the Strait of Hormuz closure severely impacting crude flows. Analysts warn supply disruptions could push prices toward $120, and the UAE's OPEC exit raises concerns about prolonged market instability.
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