Business · 19 February 2026
Oil hits $71 as traders fear US Iran strikes
Global markets reacted to potential American military action against Tehran, pushing Brent crude values up 1.55% to $71.44 per barrel. Experts suggest President Trump might order bombing raids on nuclear facilities or army infrastructure instead of seeking government replacement. West Texas Intermediate also climbed above $66, while investors are turning to gold as a safety net during the ongoing standoff. Tensions have escalated since US naval ships moved towards the area in January.
Reported by Guardian · How we write briefs