Dollar Nears New High of the Year as Investors Rush to Safety
The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety.
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The dollar jumped Wednesday as higher oil prices and heightened tensions in the Middle East prompted investors to flock to safety.
Oil giant Saudi Aramco has been looking to secure thousands of tons of diesel in the Mediterranean after a series of attacks on its energy facilities over the past few weeks.
Oilย surged as Saudi Arabiaโsย closureย of a major crude pipeline following attacks jolted the market, with the move disrupting a route thatโs been key to bypassing the Strait of Hormuz during the US-Iran war. Bloomberg's Rob Barnett joins to discuss. (Source: Bloomberg)
Oil rose after Saudi Arabia shut a major crude pipeline following attacks, disrupting a route thatโs been used to bypass the Strait of Hormuz during the US-Iran war and deepening a global energy crunch.