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The Economic Times

Markets / The Economic Times

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Oil jumps to highest settlement since July 2022 as more Mideast supply disrupted

Oil prices have surged to their highest in nearly four years. Iraq declared force majeure on oilfields. The U.S. is deploying more troops to the Middle East amid escalating Iran tensions. Attacks on energy infrastructure continue. The Strait of Hormuz remains disrupted. Analysts expect prices to stay elevated. Restoration of oil flows could take months.

21 Mar 2026 1:27 am