The price of oil will spike as markets open and could even soar beyond $US100 a barrel after the Trump administration’s intervention into a weeks-long war between Israel and Iran unsettles financial markets.
While the price of Brent crude has drifted more than 10 per cent higher since Israel first launched an attack on Iranian nuclear assets two weeks ago, traders fear US President Donald Trump’s authorisation of bombing at the weekend will lead to a rapid escalation in the conflict.
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