Oil prices have surged past 100 dollars per barrel as major producers cut output due to the ongoing war in Iran, compounded by threats of escalation from President Donald Trump.
Oil prices have drastically increased, surpassing 100 dollars per barrel, primarily driven by significant output cuts from major producers amid the ongoing conflict in Iran. This upward trend was marked by a 15 percent rise in West Texas Intermediate (WTI) crude prices, reaching 104.61 dollars per barrel in early trading, following a whopping 36 percent increase just the previous week. The Brent crude oil also crossed the 102-dollar threshold, indicating a broader impact on global oil markets.
