Oil prices climb after Trump says US will hit Iran 'extremely hard' in national address
Oil prices have surged after US President Donald Trump threatened to hit Iran 'extremely hard' in a national address. The price of Brent crude oil rose by a record 64% in March, the highest monthly gain since the Gulf war in 1990.
The price of Brent crude oil has risen significantly. It increased by 64% in March, the highest monthly gain since 1990. This rise is due to the conflict with Iran, which has disrupted global energy supply. Oil prices are expected to continue rising if the conflict does not ease. Asian stock markets have also been affected, with Japan's Nikkei 225 index gaining 4% and the Kospi in South Korea rising by over 6%. The global benchmark for oil is a contract to buy a barrel of Brent crude one month in the future.
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