Trump's Iran Threat Sends Oil Prices Soaring
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Oil prices surge as Trump escalates tensions with Iran, pushing Brent crude to a peak of $110.80 and WTI to $103.80. Analysts link the spike to Trumps order for the U.S. Navy to take action against Iranian gunboats. The move shakes up oil traders, who are already grappling with plummeting demand due to global lockdowns and nearly maxed-out storage tanks. Meanwhile, OPEC and allies like Russia push for a massive cut of up to twenty million barrels a day, aiming to stabilize the market.
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