RTE.ie·4 min read·medium
World oil prices soar by 6% as US and Iran trade strikes
R
RTÉ News
✦AI Summary
Global oil prices rose by 6% following renewed tensions between the US and Iran, with President Trump declaring the memorandum of understanding to end the conflict 'over'. The market is reacting to fears of supply disruptions in the Strait of Hormuz.
Oil prices jumped over 4% today, hitting a two-week high after US President Donald Trump said the memorandum of understanding to end the conflict with Iran was "over", renewing fears of disruptions to Middle East oil supplies.
economyworldbusiness
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