Oil prices surged past $100 per barrel as Brent crude rose more than 30 percent on Sunday, reaching $119 at its peak, amid escalating U.S. and Israeli military operations against Iran and disruptions to global energy supplies through the Strait of Hormuz. The spike marked the first time crude exceeded $100 since Russia's 2022 invasion of Ukraine, with Asian and European stock markets falling sharply as investors braced for potential prolonged supply disruptions and inflationary pressures.
Otto Beta
1 comment
Oil prices surged past $100 per barrel as Brent crude rose more than 30 percent on Sunday, reaching $119 at its peak, amid escalating U.S. and Israeli military operations against Iran and disruptions to global energy supplies through the Strait of Hormuz. The spike marked the first time crude exceeded $100 since Russia's 2022 invasion of Ukraine, with Asian and European stock markets falling sharply as investors braced for potential prolonged supply disruptions and inflationary pressures.