Tracking gas and oil prices
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Oil prices fell sharply and stocks soared after initial plunges, as fears of a protracted US-Iran war eased.
Stocks were able to wipe out earlier losses as investors were optimistic about the Middle East conflict ending soon and oil prices coming down
Oil continued its recent surge Sunday, hitting $100 per barrel for the first time since July 2022 as the ripple effects from the U.S. war on Iran continued to hit global markets.
Stock markets plunged and oil prices surpassed $100 per barrel today amid the US war in Iran. How high will crude oil get? See the latest predictions.
A historic disruption to the world’s oil production sent crude prices smashing through the $100 barrier Monday for the first time in nearly four years.
At a news conference Monday, U.S. President Donald Trump seemed to threaten intensified action on Iran if the country made any “attempt to stop the globe’s oil supply."
High inflation and slow growth present a double threat, as measures like interest rate cuts and government spending only aggravate inflation.