Oil Prices Surge on Iran War Fears

0:00It's April 3rd. Welcome in. This is Canada News Today, where local news meets AI. I'm Corey with the story. Oil prices shot up big time today on fears that the war with Iran could drag on, hitting US crude at $111.54. A barrel, up 11.4%, while Brent crude climbed 7.8% to $109.03. At BMI, warned a longer fight could mess with key oil routes like the straight-of-for-mouse, delaying recovery and keeping prices high through the year. Asia feels this hard since countries like Japan rely heavily on those imports, though some hope for deals to keep fuel flowing. Markets reacted mixed across the region. Japan's Nikkei rose 1.3% to 53,164.30, South Korea's Cospi jumped 3%. It's a 5,391.78, but Shanghai dipped 1% to 3,081.9.

1:009. Plenty of exchanges shut down for good Friday. Wall Street wrapped a winning week despite the oil spike, with the S&P 500 up 0.1% daily to 6,500, 82.69% and 3.4% for the week. President Trump doubled down Wednesday, saying attacks continue with no clear end in sight, as bonds held steady and the dollar nudged up against the YEN. This tension keeps global traders on edge, watching every move in the Middle East for the next price swing.