Oil price expected to surge as result of Iran strikes and strait of Hormuz closure
Markets around the world could tumble on Monday and motorists are likely to pay more at the pump
The price of oil is expected to soar on Monday while stock markets could tumble as the US-Israel war on Iran rattles investors.
US crude oil is on track to rise by 9% when trading resumes, according to data from the broker IG, after Tehran said on Saturday it had in effect closed the strait of Hormuz, a key oil choke point, reportedly prompting the halt of some oil shipments. Continue reading...
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