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Oil prices have surged to four-year highs amid escalating fears of a US-Iran war and concerns over the Strait of Hormuz, pushing California gas prices past $6 a gallon. UN Secretary-General Guterres warned that a closure of the Strait of Hormuz would choke the global economy. The oil spike has whipsawed global markets, with Japanese stocks and bonds declining, while US stocks still rallied to their best month since 2020. Gold steadied as the dollar weakened on reports of yen intervention.
by WorldBrief & Maksim Micheliov | AI-generated summary
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