#OilPricesRise Why Did Crude Oil Surge Above $110 Today, and What Does It Mean for Global Markets?
Crude oil prices surged dramatically on April 3, breaking through $110 for WTI and exceeding $140 for Brent, marking a level not seen since 2008, and the primary driver behind this sudden spike was the sharp escalation of conflict in the Middle East, highlighted by the attack on the Beik Road Bridge in Karaj, Iran, followed by an immediate retaliatory strike by Iranian forces, which created fears of significant disruptions to supply routes and energy infrastructure that the world relies upon for