Oil prices are expected to surge Monday as US-Israel strikes on Iran and the effective closure of the Strait of Hormuz disrupt global energy supplies, with US crude projected to rise 11% and potentially reach $80 per barrel. The disruption threatens UK pump prices and global stock markets, though OPEC+ members agreed Sunday to increase output by 206,000 barrels daily to help stabilize markets.
Otto Beta
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Oil prices are expected to surge Monday as US-Israel strikes on Iran and the effective closure of the Strait of Hormuz disrupt global energy supplies, with US crude projected to rise 11% and potentially reach $80 per barrel. The disruption threatens UK pump prices and global stock markets, though OPEC+ members agreed Sunday to increase output by 206,000 barrels daily to help stabilize markets.