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Keywords: Brent oil price surge
Finance ministers from the Group of Seven held an emergency virtual meeting Monday to discuss a coordinated release of strategic oil reserves as global crude prices surged above $100 per barrel amid the escalating conflict involving Iran. The call, scheduled for 08:30 Eastern Time, included International......
Saudi Arabia has begun reducing oil production as the effective closure of the Strait of Hormuz fills storage facilities across the Persian Gulf, intensifying what analysts describe as the largest supply disruption in modern oil market history. The move by the world’s largest oil exporter comes......