Oil tops $100 as Middle East war triggers Saudi output cuts

(Bloomberg) — Oil surged above $100 a barrel as Center East producers started reducing output amid a near-total halt of tanker visitors by the Strait of Hormuz, choking off provides to world markets.  Saudi oil tanks. Picture: Aramco. Brent crude traded about 13% larger close to $104 a barrel after earlier spiking near $120, marking one of many largest single-day features since futures buying and selling started in 1988. Costs later...

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