Oil price jumps above $117 after reports of 'extended' Iran blockade
Oil Spikes on Iran Blockade Fears. Energy Markets Have Panicked Before. They've Also Recovered.
What Happened
Oil prices surged above $117 per barrel following reports that Iran may face an extended blockade, raising concerns about disruptions to Middle Eastern oil supply routes. The jump reflects market anxiety about potential constraints on Iranian oil exports or transit through key shipping corridors.
What's In Your Control
Whether you panic-buy petrol today (don't). Whether you check your energy exposure in your investment portfolio (reasonable, once, calmly). Whether you understand that oil prices affect your cost o...