Oil jumps 4% to $79 per barrel as US-Iran tensions escalate

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Global crude oil prices surged over 4% to $79 per barrel as increased hostilities between the United States and Iran raised fears of supply disruptions. The rise follows renewed military clashes between the two nations.

By Obas Esiedesa, Abuja Global oil prices climbed by more than four per cent on Monday, with Brent crude rising to about $79 per barrel, as renewed hostilities between the United States and Iran heightened concerns over disruptions to global crude supplies. The price rally followed fresh military exchanges between the two countries and Iran’s […] The post Oil jumps 4% to $79 per barrel as US-Iran tensions escalate appeared first on Vanguard News.