Iran-US war: Inflation worry rises as Crude Oil prices surge past $114 amid West Asia tensions

Описание: Amid the escalating tensions in West Asia, Crude Oil prices surpassed $114 per barrel for the first time since 2022 on Monday. As the US-Israel and Iran war rages, the conflict has threatened production and shipping in the Middle East.

The price for a barrel of Brent crude jumped 23 per cent from Friday from closing price of $92.69 to $114 on the Chicago Mercantile Exchange. West Texas Intermediate, which is produced in the United States, was also priced around $114 a barrel. It jumped 25% since closing price of Friday at $90.90.
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