Oil prices surge to highest level since 2022
Yahoo Finance·2026-03-20 20:39
America’s small cap stocks plunged into correction territory on Friday, meaning they have dropped by more than 10pc since their peak.The Gulf state’s oil minister Hayan Abdel-Ghani said the Basra Oil Company has cut crude oil production from 3.3 million barrels per day to 900,000.Iraq’s state-owned oil giant has cut production by three quarters as Iran’s blockade of the Strait of Hormuz halts exports.Stock markets tumbled around the world with the US benchmark S&P 500 down 1.5pc and the FTS ...