Oil Prices Surge Above $100
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After its largest increase since the early 1980s over the last week, futures trading on crude oil on Sunday surpassed $100 per barrel.
Oil prices go up faster than they come down, especially since the war has damaged oil infrastructure in the Middle East.
US President Donald Trump dismissed the war-related spike in oil prices as a "small price to pay" for removing the threat of Iran's nuclear threat.
BPCL, HPCL, and IOCL shares drop up to 6% as crude oil surges above $100 amid West Asia tensions, raising concerns over under-recoveries and margin pressure.
Domestic energy companies could benefit from high oil prices in the short-term, but take a hit if the Iran war drags on.
Oil prices were climbing again on Thursday morning as the war in Iran approaches its one-month mark — with little sign of an end in sight. The front-month Brent crude contract for May delivery BRNK26 was up nearly 5% to $107.16 a barrel, while the most ...
Oil prices have eclipsed US$100 per barrel for the first time in more than three and a half years as the Iran war hinders production and shipping in the Middle East.