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Brent crude oil prices have surged past $100 amid the US–Iran conflict, disrupting global supply chains. Discover how this volatility impacts inflation, households, and South Africa’s economy.
Traders placed approximately $580 million in oil bets on Brent and West Texas Intermediate (WTI) futures contracts between 6:49 a.m. and 6:50 a.m. New York time on Monday, March 24, 2026, about 15 minutes before President Donald Trump posted on Truth Social, announcing "productive conversations" with Iran and a pause in planned strikes.
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