Oil Prices Soar Amid Iran Tensions

0:00Reporting from the Daily News now, I'm Corey, with the latest global headlines. Oil prices keep climbing even after major countries tap their emergency reserves. Brent Crude jumped nearly 9% to top $100 of barrel during Asian trading. That's despite all 32 members of the International Energy Agency agreeing to release 400 million barrels. The biggest such move ever. Iran ramped up threats amid the ongoing war, warning that oil could hit $200 of barrel. Officials there said their targeting ships linked to the US, Israel, or their allies in the Strait of Hormuz, a vital route for global energy. Shipments. They blame regional tensions for the surge. Tensions spike since US and Israeli air strikes hit Iran on February 28th. Markets of swung wildly, with Brent peaking near $120 earlier this week. The International Energy Agency represents two-thirds of world energy production and use. Fuel costs are biting hard worldwide.

1:01In the US, average petrol prices pass $3.50 a gallon. Asia, which leans heavily on Middle East supplies, feels at worst, with long lines at stations and places like the Philippines, Thailand, and Vietnam. Some governments are stepping in to ease the strain. Thailand urged most public workers to stay home and cut non-essential travel. The Philippines rode out a four-day work week for government staff to save energy. This episode is brought to you in partnership with our sponsor, Relax Deeper. Reset faster. Come for you can hear, S-O-L-I, solelypillow.com.