Tag Archives: Oil prices surged by as much as 19% before coming off peaks. The intraday jump was the biggest since the 1991 Gulf War

An attack on Saudi Arabia that shut 5% of global crude output triggered the biggest surge in oil prices since 1991, after U.S. officials blamed Iran and President Donald Trump said Washington was “locked and loaded” to retaliate. The Iran-aligned Houthi movement that controls Yemen’s capital claimed responsibility for the …

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