Crude oil prices jump  surged by over 3 per cent

Crude oil prices jump surged by over 3 per cent

Global oil and gold prices have jumped, while shares have slumped after reports of explosions near the Isfahan airport

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emerged just minutes after a US official told the Australian broadcaster ABC that Israel had fired missiles on one Iran site.

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Brent crude oil prices surged by over 3 per cent to approximately $90 per barrel during Friday morning’s

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while the price of gold remained near a new all-time high, surpassing $2,400 per ounce

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Following the development in Iran, key stock indices in Japan, Hong Kong, and South Korea experienced declines.

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Crude oil prices have surged since the beginning of the year, primarily due to escalating tensions in the Middle East

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and ongoing supply cuts by OPEC+. Given that the region contributes approximately one-third of the world’s crude oil output

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developments there heavily influence global energy markets

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The sustained increase in energy prices could elevate risks for the global economy and present a significant challenge for central bankers worldwide.

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