Price of oil hits $116 a barrel after Trump says he wants to ‘take the oil in Iran’
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Stock markets in Asia drop sharply, with investors nervous over escalation of Middle East conflict
The price of oil has risen sharply to $116 a barrel after Donald Trump said he wanted to “take the oil in Iran”, sending Asian stock markets tumbling.
Brent crude, the international benchmark for oil, rose by 2% in early trading on Monday, after Trump said that he could seize the Iranian export hub of Kharg Island.
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