There is a war in the Midde East, and oil prices are going up— of course.
Rebecca F. Elliott and Joe Rennison write for the New York Times:
Oil prices surged on Sunday evening, briefly topping $110 a barrel soon after markets opened, in a sign of growing concern that the war in the Middle East will continue to take a toll on energy supplies.
It was the first time in almost four years that the global oil benchmark, known as Brent, cost more than $100 a barrel. Oil is now around 50 percent more expensive than it was before the United States and Israel began attacking Iran on Feb. 28.
