Oil price surges to highest since 2023

The escalating US-Israeli war against Iran is disrupting energy supplies from the Middle East

Oil prices hit a two-and-a-half year high on Friday as the escalating US-Israeli war against Iran disrupts energy supplies from the Middle East to global markets.

Global benchmark Brent crude futures were up over 8% to over $92 a barrel, while US West Texas Intermediate (WTI) rose over 11% to over $90, both highest since September 2023.

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