Oil Prices Skyrocket, Global Supply Shocks Intensify
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Oil prices skyrocketed in March, reaching nearly $120 per barrel for Brent crude, due to global supply shocks. Irans attacks on Kuwaiti tankers and Israels Haifa refinery exacerbated the situation. California gas prices surged 27% to $5.89 per gallon, fueling inflation concerns. Despite new oil discoveries and LNG production, Ukraines drone strikes reduced Russian exports by a million barrels per day. The oil market remains volatile, with no signs of relief.
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