Oil prices surge to highest since 2023 as Middle East war rages, stocks fall on US jobs

Oil prices surge as West Asia conflict rages, stocks fall on U.S. jobs

Maritime traffic has all but dried up through the Strait of Hormuz, through which a fifth of the world’s crude oil and liquefied natural gas supplies run

Oil jumps to highest price since 2023 amid Iran war, weak US jobs data rattles Wall Street stocks

Global financial markets witnessed a turbulent week as oil prices surged to their highest level since 2023 amid escalating tensions linked to the ongoing conflict in the Middle East. The spike in energy prices, combined with disappointing US employment data, triggered a sharp sell-off across Wall Street and raised fresh concerns about the health of the global economy. Brent crude, the international benchmark for oil prices, jumped sharply and se…

Oil prices surge to highest since 2023 as Middle East war rages, stocks fall on US jobs

The price for a barrel of Brent crude, the international standard, jumped 8.5 per cent as the US-Israel war upended the world's energy and transport sectors.

Global oil prices surge 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. Commercial traf…

Europe stocks mark biggest weekly drop in almost a year as Middle East conflict persists

The Stoxx volatility index has spiked to its highest level since April earlier in the week and remained elevated on Friday