Oil prices surge as U.S.-Iran tensions escalate

Brent crude oil surpasses $101 amid rising US-Iran tensions and military actions in the Persian Gulf

Brent crude oil has exceeded $101 a barrel due to rising tensions between the U.S. and Iran in the Persian Gulf.

The U.S. military destroyed five Iranian tankers after an attempted attack on an American warship.

Goldman Sachs predicts oil prices might hit $120 if these conflicts persist, though they anticipate a gradual recovery of exports.

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