EMEA Oil Update: Crude Oil Surges 4% as Strait of Hormuz Standoff Intensifies
() -- Oil prices gained more than 4% on Monday as escalating military hostilities between the US and Iran ignited fears of prolonged supply disruptions. Brent crude futures rose over 4% to $79.21 per barrel, while Murban crude futures gained 4.2% to $74.07/bbl. "Further escalation in the Persian Gulf has oil prices mov