Global oil prices have surged past $100 per barrel after escalating conflict involving Iran and disruptions to the Strait of Hormuz, a critical route for nearly 20 percent of the world’s oil supply. Leaders say the spike may be the cost of war, but economists warn prices could climb even higher if the conflict continues. This report breaks down what triggered the surge, why energy markets are reacting, and what it could mean for fuel prices and the global economy in the weeks ahead.
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