Crude Oil prices surge as Iran reportedly hits US warship

Crude Oil prices gathered bullish momentum in the European session on Monday on news pointing to a further escalation of the conflict in the Middle East.At the time of press, the barrel of West Texas Intermediate (WTI) was trading near $103.50, rising about 4% on the day, while the barrel…

US Dollar Index flat lines above 98.00 amid Hormuz tensions

The US Dollar Index (DXY), an index of the value of the US Dollar (USD) measured against a basket of six world currencies, currently trades near 98.20 during the Asian trading hours on Monday. The DXY steadies as traders continue to assess geopolitical tensions in the Middle East. US President Donald Trump said the US will begin guiding some neutral ships trapped in the Persian Gulf out through the Strait of Hormuz beginning Monday. Bloomberg reported that US Navy…

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Iran conflict pushes US gas prices to all-time record highs this summer

Gas prices are entering the summer driving season at record levels, with the national average hitting $4.45 on May 2—the highest ever for that date. That’s up about $1.28 from a year ago, according to AAA, with prices rising across nearly every region.OIL, GAS PRICES JUMP AS TRUMP FLIRTS WITH…

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