Oil prices climb
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As the broader war in the Middle East begins its third week, worries over the fallout of crippled energy supplies continue to roil markets.
If oil remains above $90 a barrel, that could trigger a "domino effect" in global stocks while hitting economic growth, JPMorgan said.
By Enes Tunagur LONDON, March 16 (Reuters) - Oil prices rose on Monday as the U.S.-Israeli war on Iran continued to disrupt oil production and shipping in the Middle East, despite U.S. President Donald Trump's call for global efforts to secure the vital Strait of Hormuz.
Crude oil stayed above $100 a barrel on Monday and Gulf countries reported more attacks by Iran as the war entered its third week, while share prices were mixed. A barrel of Brent crude, the international standard,
Trump’s social-media post is a potential public relations hurdle for an industry that has a complicated relationship with the president.
A small island in the Gulf has become a flashpoint in the widening war involving Iran, the United States and Israel. Kharg Island handles almost all of Iran’s oil exports – making it a vital economic
The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.
The move is likely to be a boon to Russia as the United States tries to stem the economic fallout from its war on Iran as the price of crude has soared.
The US struck military sites on Kharg Island, from which Iran exports almost all its oil, for the first time overnight, upping the ante in a Middle East war that’s raged for more than two weeks and shows little sign of easing.
Renewed inflation worries, combined with gains in oil prices, have shifted expectations for Federal Reserve policy. Traders have scaled back bets that the central bank will cut in
Oil shock from Iran war raises inflation concerns, but Goldman Sachs sees minimal impact on global supply chains outside energy sector.