Energy markets surge as Brent surpasses $90
Brent crude oil prices jumped by 3%, surpassing $90 per barrel, amid escalating military tensions between the United States and Iran in the Gulf, especially with the possibility of Iran closing the Red Sea navigation route and the deteriorating situation in the Strait of Hormuz. These developments threaten global oil supplies, and it is likely that such escalation will push prices toward nearly $100 per barrel if the crisis persists, with ripple effects causing uncertainty in global markets and economic growth.
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