Oil prices see sustained surge
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Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.
Geopolitics and the surge in the oil price are dominating markets on Friday. Brent and WTI crude oil are higher by 7% and 6% respectively, after Israel launched airstrikes on Iran. Brent is now trading at $74 per barrel,
Crude jumps on Middle East tensions. Oil stocks like CIVI, APA and FANG rally on supply fears and rising risk premiums.
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Barchart on MSNGeopolitics, the Fed and Other Can't Miss Items this WeekThe stock market opens a shortened trading week under the shadow of escalating Middle East tensions following Israel's attack on Iran's nuclear, missile and military complex early Friday. Oil prices soared and stocks sank Friday after Israel launched strikes on nuclear and military sites in Iran,
U.S. stock indexes climbed and oil fell from last week's highs on Monday after conflict between Israel and Iran left crude production and exports unaffected, while investors stayed braced for a week packed with central bank meetings.
Middle East is causing a surge in oil prices, which may lead the South African Reserve Bank to reconsider its interest rate cuts. This article explores the implications of geopolitical tensions on inflation and monetary policy.