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US-Iran Tensions: Crude Oil Could Exceed $100 as Trump Weighs Attack, Threatening Global Oil Market Upheaval
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US-Iran Tensions: Oil Market Faces Major Upheaval, Crude Prices Could Soar Past $100
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CNBC Awaaz
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21-02-2026, 13:23
US-Iran Tensions: Oil Market Faces Major Upheaval, Crude Prices Could Soar Past $100
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Potential US military action against Iran could trigger significant global oil market disruption.
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Crude oil prices have already risen over 5% this week due to military action risks.
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Disruption of oil supply from the Strait of Hormuz, a vital global trade route, is a major concern.
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Extended closure of the Strait of Hormuz could push crude oil prices above $100 per barrel.
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US Energy Minister Chris Wright states global oil supply is currently adequate, offering more geopolitical options.
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