Oil prices surged nearly 10% on Monday as renewed U.S.-Iran conflict focused attention on the Strait of Hormuz. Brent crude futures for September delivery gained $7.29, or 9.6%, to settle at $83.30 a barrel. U.S....
Tag : global oil supply
In a pivotal move, OPEC+ members, responsible for over 40% of global oil supply, have agreed to substantial voluntary production cuts for early next year. The decision, led by Saudi Arabia's commitment to maintain its...