Iran War: Why oil prices are soaring despite record reserve release

Major economies have agreed to release a record amount of strategic oil reserves, but the move did little to calm investors Thursday, with prices at one point surging above $100 a barrel. Fresh Iranian strikes on energy infrastructure and fears of a prolonged conflict have overshadowed the historic drawdown. AFP explains why the release has […] The post Iran War: Why oil prices are soaring despite record reserve release appeared first on Vanguard News.

By Akinbayo Wahab