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Oil Prices Surge 5% Amid Middle East Supply Concerns on March 12

Summary

Global oil prices jumped 5% today, reaching $95 per barrel, driven by escalating tensions in the Middle East disrupting supply chains, Reuters reported. The Brent crude benchmark r

Global oil prices jumped 5% today, reaching $95 per barrel, driven by escalating tensions in the Middle East disrupting supply chains, Reuters reported. The Brent crude benchmark rose sharply due to fears of reduced exports from key producers. Commodity analysts warn this spike could pressure inflation globally and impact manufacturing costs. Meanwhile, gold prices also climbed 2% as investors sought safe-haven assets. The surge highlights ongoing volatility in energy markets amid geopolitical uncertainty and shifting OPEC+ production policies.
1d ago
Oil Prices Surge 5% Amid Middle East Supply Concerns on March 12

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