Jun 13
Economy
Oil Skyrockets After Israeli Airstrikes—What It Means for Your Wallet
Adobe Stock/MR.Zanis/stock.adobe.com
Oil prices surged nearly 9% Friday—the biggest spike since Russia invaded Ukraine—after Israeli strikes on Iran escalated Middle East tensions. With Iran vowing retaliation and fears mounting over possible disruption to the Strait of Hormuz, markets braced for volatility. Analysts warn prices could soar to $130 if the conflict deepens, though no current impact to oil flows has been reported.
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