Crude oil prices surge on US-Iran tensions

Crude oil prices surge on US-Iran tensions — Crude prices jumped over 4% as renewed hostilities between the US and Iran threaten the interim peace deal, raising supply disruption fears. The escalation comes amid heightened tensions in the Persian Gulf, a key oil transit route. Global crude benchmarks surged, with Brent nearing $95 per barrel. This spike may pressure Indian refiners and widen the trade deficit.

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