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The Sky Is The Limit For The Current Oil Price Rally

Summary by Oil Price
Brent tops $90 as the Strait of Hormuz closure halts Gulf oil flows and Iraq and Kuwait begin cutting output, fueling fears of a sharper price surge. Friday, March 06, 2026 When a US President declares that there would be no deal with Iran except for ‘unconditional surrender’, the oil markets rally. Hence, there should be nothing surprising about ICE Brent jumping above $90 per barrel for the first time since April 2024, as the closure of Strait…
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(Sejong = Yonhap News) Reporter Lee Jun-seo = The government's 'theory of the role of a civil servant' is gradually increasing in volume.

·Korea (the Republic of)
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London. Oil prices skyrocketed this Friday at peak levels following Donald Trump’s promise to continue the war until Iran’s “unconditional surrender” and investors’ fear of oil supply disruptions. “There will be no agreement with Iran, just unconditional surrender,” wrote the U.S. president on his Social Truth network. As a result, Brent’s barrel, the international oil reference, exceeded $92, its highest level since 2023. Its U.S. equivalent, t…

Lean Right

The crisis in the Middle East continues to escalate and the increase in uncertainty impacts on the decisions of the main players in world trade. The mere fact of the potential closure of the Strait of Ormuz, where 20% of the oil and gas of the global trade passes, has already impacted on the price of oil, which reached 80 US$ a barrel. The market assumes that, if the interruption of the maritime traffic of oil in the Strait, the prices could cli…

·Buenos Aires, Argentina
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Lean Left

Oil prices flew to peaks after Trump's promise to continue the war until Iran's "total surrender".

·Montreal, Canada
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  • 54% of the sources lean Right
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Oil Price broke the news in London, United Kingdom on Friday, March 6, 2026.
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