Iran, Oil and Trump
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Oil rises on Monday amid heightened tensions in the Middle East, raising concerns that the conflict may drag on.
Oil futures climbed on Monday, getting a boost after President Donald Trump warned that the “clock is ticking” on Iran, but a loss of the buffers used to cushion supply disruptions could spark the next significant move higher for prices.
The price of oil rose sharply after Iran reportedly cut off talks with the United States to the war. Crude oil jumped to levels not seen since mid-May.
Oil prices and stock markets worldwide swung through a shaky Monday with uncertainty about what will happen with the Iran war. The S&P 500 swiveled between gains
Oil markets jolted higher Monday after Iran threatened to shut the Strait of Hormuz amid escalating tensions in the Middle East. West Texas Intermediate crude surged 7% to about $94 a barrel and Brent climbed 6% to roughly $97,
Regional tensions rise as Iran vows to resist the U.S. blockade and asserts control over the Strait of Hormuz, while Netanyahu signals military action against Hezbollah in Beirut.
Oil prices surged on Monday after Israel instructed troops to push deeper into Lebanon amid renewed clashes with the Iran-backed Hezbollah group.