Oil hits $100 again after peace talks in the Middle East fall apart
Just when everyone hoped gas prices were settling down, missile trading replaced diplomacy again.
Remember those peaceful couple of weeks when everyone hoped diplomatic talks were actually going somewhere? Yeah, those are officially over. Oil prices just smashed past $100 a barrel again as the situation in the Middle East spiraled straight back into chaos.
The Houthis decided to enforce their Red Sea blockade by launching cruise missiles and drones at Saudi Arabian oil tankers, setting one on fire. Meanwhile, Donald Trump ordered retaliatory airstrikes against targets in Iran for twelve consecutive nights after two American soldiers were killed in Jordan. Key shipping lanes are once again a shooting gallery, sending global energy markets into an instant panic.
At this pace, a routine stop at the gas station is about to cost as much as a weekend trip.
Source: The Guardian
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