Trump's Iran Warning Spikes Oil Prices
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Oil prices surged Wednesday following President Trumps stern warning to Iran, with Brent crude nearing $110 and WTI rising to $103.80. Trump ordered the U.S. Navy to shoot down Iranian boats harassing American ships, escalating tensions and causing a market uproar. Analysts see this as a strategic move to divert attention from the coronavirus crisis, adding risk to an already volatile situation. Prices had plummeted due to lockdowns and storage issues, but a potential 20 million barrels a day cut by OPEC and allies could stabilize the market.
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