Oil extends gains after fresh US strikes, stocks mostly rise
'” Oil prices shot up more than nine percent on Monday over fears of renewed conflict and the possibility that a fresh surge in inflation could force the Federal Reserve and other central banks to hike interest rates soon.“The 20 percent levy would add about $16 to the cost of every barrel of oil passing through the strait on a typical supertanker.
Its New York-listed shares — which soared more than 13 percent on their debut on Friday — plunged more than nine percent on Monday.
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