Iran conflict spurs early oil price surge

Iran conflict spurs early oil price surge

Crude oil prices spiked by over $6 per barrel — their highest level in slightly over a year — in initial trading on Sunday.Why it matters: The surge from the Asia markets' opening is the first major evidence of how markets are digesting the potential for supply disruptions from the strikes against Iran.It will push up U.S. gasoline prices, though the impact will depend on the evolving market response as well as the scope and duration of the conflict.Driving the news: The global benchmark Brent c...

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