Oil prices surged to $110 per barrel, marking the highest level since May, as global markets react to ongoing geopolitical tensions. The spike follows disruptions linked to conflicts between the U.S. and Iran as well as Russia and Ukraine, raising concerns over supply stability. Analysts warn that prolonged instability in key oil-producing regions could further strain energy markets. The development underscores the delicate balance between geopolitics and commodity prices amid shifting global dynamics.
Welcome to The Hill's Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story Oil hits $110 per barrel for first time since May An international oil benchmark hit $110 per barrel on Friday, as the industry faces persistent shocks from the U.S.-Iran and Russia-Ukraine wars. © Kamran Jebreili, Associated...
