Oil Surges Above $100 a Barrel: A New Global Economic Shock Is Taking Shape
The return of $100 oil is sending shockwaves through the global economy.
The return of $100 oil is sending shockwaves through the global economy.
Global oil prices surged sharply on Thursday as rising tensions between the United States and Iran fueled concerns over the prolonged closure of the Strait of Hormuz, one of the world’s most critical oil shipping
Tensions between the United States and Iran escalated sharply Tuesday after Iranian media reported several explosions on the strategic island of Kharg, the country’s main oil export hub.
In his first national address since the Iran war began, President Donald Trump vowed to strike Iran “extremely hard” over the coming weeks, while Tehran promised stronger retaliation. The speech sent oil prices soaring and rattled global markets.
WASHINGTON / DUBAI, March 31, 2026. U.S.