Oil surges 7% as US plans prolonged Iran blockade, pushing Brent above $119
Oil prices extended their rally on Wednesday after reports that the US is preparing for an “extended” blockade of Iran, escalating fears over global supply disruptions. US West Texas Intermediate futures jumped around 7% to trade above $107 per barrel, while Brent crude surged nearly 7% to cross $119 a barrel, its highest level in…
