Strait of Hormuz, Trump and Russian oil
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Iran, Oil
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Oil markets are bracing for the reaction to the joint attack on Iran by the US and Isreal. The price of oil is expected to jump when trading starts again Sunday
Prediction market bettors are increasingly expecting the U.S. economy to enter a recession.
The Journal News on MSN
Gas prices jump sharply in NY as oil tops $100 a barrel. How to save at the pump
New York gas prices jumped 39 cents in a week, reaching $3.40 per gallon due to Middle East conflict and seasonal factors.
Brent crude oil hovered around $100 a barrel Thursday, after Iran’s new leader said the Strait of Hormuz would remain shut and as further attacks on ships in the Gulf spooked energy traders.
The price of a gallon of gasoline hits its highest level in a year and a half on Friday. Surging oil prices suggest that the increases will continue.
Oil prices jumped Thursday to their highest level in nearly seven months and investors snapped up safe havens like gold, as tensions between the United States and Iran continue to flare. Brent crude, the global benchmark, rose 1.86%, to $71.66 per barrel.
By Fergal Smith TORONTO, March 2 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Monday, as safe-haven gains for the greenback countered a jump in oil prices and domestic data that showed increased factory sector activity.