Price of oil hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’
Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict
The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “take the oil in Iran”, sending Asian stock markets tumbling.
Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island.
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