Oil prices are surging toward $140 per barrel due to geopolitical tensions, specifically naval blockades on Iranian oil exports, with Brent crude exceeding $120 for the first time in over 4 years, potentially triggering inflation and global market volatility.
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$140 Oil?Added:
What country has the largest oil reserves?
Diddy. Anyway, the price of oil is surging and Iran have said that the next stop is at $140. All because Trump has still got the naval blockades on oil exports in the Iranian ports. And take a look at the price of Brent crude oil.
That's over $120. That's the first time in over 4 years. So, what you've got to keep your eye on is retesting those highs from earlier in the month. If we do go up to 120, I'm worried that we're going to break it, head up to 130, 140, and that's where global chaos kicks in.
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