Oil crosses $100 as Iran conflict intensifies, spooking markets
TL;DR Summary
Oil prices surged above $100 per barrel as the Iran conflict raised supply fears through the Strait of Hormuz, with US crude around $108–110 and Brent near $108. Analysts warn prices could spike further (up to $150) if flows don’t resume. Gas prices rose to about $3.45 per gallon, and stock futures fell on inflation worries, while the White House floated measures to insure and escort tankers through key shipping lanes.
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- Oil Prices Surge Above $100 a Barrel for the First Time in Almost Four Years The New York Times
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