02
Mar
Tehran (Rajeev Sharma): Crude oil prices leapt in early trading this week after renewed military action in the Middle East sparked fears of serious disruptions to global energy flows. The latest wave of US and Israeli strikes on Iranian targets, followed by retaliatory attacks across the Gulf region, has unsettled traders who worry that escalating tensions could choke off supply from one of the world’s most vital oil corridors. The prospect of prolonged instability pushed benchmark prices significantly higher on Monday. US crude, known as West Texas Intermediate, climbed more than 7 per cent in morning trade to hover above…
