Crude oil prices spike near US$120 a barrel as the Iran war impedes production and shipping
Oil prices spiked near $120 per barrel before falling back Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummeling financial markets. The price for a barrel of Brent crude, the international standard, surged to $119.50 per barrel early in the day but later was trading at $107.80 per barrel. West Texas Intermediate, the...