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Oil Prices Soaring Amid US-Iran Tensions | Perth News

Oil Prices Soaring Amid US-Iran Tensions | Perth News

Published 1 week, 3 days ago
Description

Oil prices are on edge as U.S.-Iran tensions escalate, threatening to spike costs and inflation. With key shipping lanes under threat and strategic reserves already tapped, the market’s vulnerability is growing. A worst-case scenario could push prices to $200 a barrel and inflation over 7%, even if smaller hikes hit wallets harder. Watch oil and central bank moves — the global economy’s next move hinges on these volatile dynamics.

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