Oil prices spike as key shipping route disrupted by Iran attacks
IRAN-ISRAEL
Global oil prices have risen sharply after Iran's response to the bid for regime change by the US and Israel disrupted shipping, raising the prospect of a new energy-led surge in inflation. Early trading in Asia, the first main financial market activity since Saturday morning's airstrikes on Iran, saw the international benchmark Brent crude climb 13% to $82 a barrel - its highest level since July 2024. It followed a jittery session for oil contracts on Friday when a 1% rise was explained by
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