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Oil prices surge, but no panic yet, as Iran war continues
Global crude oil prices briefly surged past 9% late Monday, and stocks fell temporarily as the war with Iran continued its third day.
Brent crude, the global benchmark, was trading in the high $70s on Monday morning following the effective halt of tanker traffic through the Strait of Hormuz.
That's a sharp rise from before the U.S. and Israel attacked, but far from a worse-case scenario.
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