Categories: Social Media News

‘Panic Trading’: Oil’s Wild 29% Surge & Crash Leaves Global Traders Exhausted

Benchmark oil contracts surged as much as 29% early in the session following a weekend of grim developments in the Middle East conflict involving the US, Israel and Iran. With maritime traffic through the Strait of Hormuz nearly at a standstill and Persian Gulf producers locking in output, fears of supply disruption sent Brent crude soaring to nearly $120 per barrel — levels last seen in mid-2022, said a Bloomberg report.

Social Media Asia Editor

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