Crude Oil Surge: Iran Crisis Fuels Price Hike, Threatening Domestic Market Stability

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Crude Oil Surges: Iran Crisis Fuels Price Hike, Domestic Market Pressure Looms

Crude Oil Surges: Iran Crisis Fuels Price Hike, Domestic Market Pressure Looms

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CNBC Awaaz•11-03-2026, 23:02

Crude Oil Surges: Iran Crisis Fuels Price Hike, Domestic Market Pressure Looms

•Crude oil prices surged by up to 6% due to the Iran crisis, potentially pressuring the domestic market.
•Iran warned global prices could reach $200; Brent crude hit $93.15 per barrel.
•New attacks on ships in the Strait of Hormuz escalated supply disruption fears.
•IEA proposed a record 400 million barrel oil release, but analysts deem it insufficient.
•14 ships targeted in Strait of Hormuz since US-Israel attacks on Iran began on Feb 28.

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