Economic TimesLean R·
Brent crude jumps 7%, climbs over $90 on escalating Middle East strikes
Oil prices surged significantly amid renewed Middle East airstrikes and supply concerns. U.S. crude inventories dropped to a multi-year low, further impacting market sentiment. Military actions in the Strait of Hormuz and surrounding regions contributed to price volatility. Analysts predict oil prices will fluctuate within a broad range in the near term. OPEC+ is expected to maintain current oil output levels for upcoming months.
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