Bhubaneswar, March 7 -- Global crude oil prices have surged sharply, crossing the $90 per barrel mark amid rising geopolitical tensions and growing concerns over supply disruptions. The spike has raised fresh worries in global energy markets, with prices reaching their highest level in nearly two years.
Just a week ago, crude oil was trading at around $80 per barrel. However, prices have now climbed above $90, marking one of the sharpest weekly increases since the COVID-19 pandemic period.
Experts say the surge has been largely driven by escalating tensions between Iran and the United States, which have pushed global oil prices up by nearly 25 per cent in a short span.
Concerns over oil storage and supply have also intensified across p...
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