Crude Oil Prices Surge Amid Geopolitical Tensions
Light sweet crude and Brent crude prices rose sharply, with weekly gains exceeding 8%, driven by geopolitical tensions over the Strait of Hormuz. Despite a temporary easing in gasoline prices earlier in the week, concerns about renewed hostilities between the U.S., Israel, and Iran have reemerged.
Tickers: $CVX
Topics: crude oil gasoline prices geopolitics U.S.-China relations