Oil Prices Surge Amid Middle East Tensions | Spokane News

Oil prices surge to a six-week high as U.S.-Iran tensions flare, threatening key shipping lanes and risking a global supply crunch. Houthi rebels in Yemen are also targeting the Red Sea, forcing tankers to reroute — a scenario that could shut down a quarter of the world’s oil flow. Experts warn prices could hit $120 a barrel, reigniting inflation fears and slowing global growth. Meanwhile, markets hold steady ahead of big tech earnings, while Trump’s new drug tariffs loom — and central banks brace for higher energy costs, with rate hikes expected later this year. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/917d1acdd25c417e