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IndustryStandard
lemmy.world
IndustryStandard@lemmy.world Joined: 2024-01-18 |
 Link: https://www.theguardian.com/business/2026/mar/01/oil-price-surge-iran-us-israel-strikes-markets The price of oil is expected to soar on Monday despite a pledge by major oil-producing nations to increase production as the US-Israel war on Iran and effective closure of the strait of Hormuz rattle investors. US crude oil is on track to rise by 9% when trading resumes, according to data from the broker IG. The jump comes despite Opec+, the cartel of oil producers, agreeing on Sunday to step up oil output by more than expected to counter the impact of the conflict. |
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