Oil Prices Surge Above $100 Amid Fears of Iran Conflict
Global crude prices surpass $100 per barrel for the first time since Russia’s 2022 invasion of Ukraine, driven by concerns that tensions with Iran may disrupt oil supplies.
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Terms & Concepts
Crude Oil Barrel: A standard unit of measure for oil traded globally, equal to 42 U.S. gallons.
Oil Supply Disruption: A reduction in the flow of oil to markets often caused by war, sanctions, or logistical blockages.