US EditionVideo As US Gas Prices Rise Amid Israel-Iran Conflict, Here’s How You Can Save
- Oil prices in Europe surged to $77.40 a barrel due to Israel's attack on Iran's nuclear facilities, which is a 10 percent increase since last week.
- Experts warn that if the Strait of Hormuz closes, Europe may have to rely heavily on the U.S. for oil, limiting its energy independence.
- Francois Villeroy de Galhau, governor of France's central bank, noted growing uncertainty due to rising oil prices amid the conflict in the Middle East.
- Rising oil prices could harm Europe's energy-intensive industries and lead to a higher cost of living globally, as stated by Qin Yan, a principal analyst at ClearBlue Markets.
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Can the conflict between Israel and Iran ‘bomb’ your pocket?The attacks on Thursday, June 19th increased oil prices by 3 percent to $77 per barrel of the West Texas Intermediate mix. Oil prices are markedly higher since Israel launched a “preventive attack” on Iran’s nuclear facilities, which caused a Persian nation’s counterattack. Pressure on fuel prices will depend on how much the flow of Iranian crude through the Strait of Hormuz is affected…
·Mexico
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Brent crude prices to remain at USD 70/bbl in FY26 despite Israel-Iran conflict: Report - The Tribune
Despite recent volatility and rising conflicts between Israel and Iran, Brent crude oil prices are expected to average around USD 70 per barrel in FY26, according to a report by Emkay Research.
·Chandigarh, India
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