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Oil Soars as Middle East Tensions Escalate | Johannesburg News
Description
Oil prices surge toward $100 a barrel as Houthi attacks in the Red Sea spark fears of escalating Middle East conflict, threatening global energy flows and inflation. While Asian tech stocks rally on AI momentum, European markets dip and the dollar strengthens. Energy firms profit from the spike, while others face layoffs and missed targets, leaving investors watching earnings and geopolitical tensions for clues on the economy’s next move.
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