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Crude oil prices spike near $120 a barrel as Iran conflict impedes production and shipping

General • March 9, 2026

Crude oil prices spike near $120 a barrel as Iran conflict impedes production and shipping is drawing significant interest across the industry.

Oil prices have surged as the conflict ensnares regions that are critical to the production and movement of oil and gas from the Persian Gulf. (AP Photo)

Experts suggest this could influence future trends and innovation in the sector.

More updates are expected as the story develops.


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