Oil surges on Iran war fears, nears highest levels since 2024
Oil prices climbed sharply Friday as concerns mounted that the Iran war could disrupt global crude supplies.
West Texas Intermediate rose nearly 11% to $89.89 a barrel, while Brent crude jumped 7.7% to $92.06, both near their highest levels since April 2024.
Prices surged further after Qatar’s energy minister warned Gulf exporters could shut down production within days, a scenario that could push Brent toward $150 a barrel, the Financial Times reported.
