Oil Prices Soar, Gas at $7/Gallon, Recession Fears
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Saudi officials warn of potential $180 per barrel oil prices due to Iran conflict disruptions, with Brent crude already surging to $119. Strait of Hormuz shutdown impacts supply, pushing gas prices towards $7 per gallon in the US. Central banks worry about global recession from demand destruction, while attacks on energy sites threaten natural gas supplies. Traders bet on prices surpassing $130-$150, potentially accelerating shifts to other energy sources.
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