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As oil prices spike, G7 opts not to dip into emergency reserves for now

Odix Odix
Mar 09, 2026 - 18:02
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As oil prices spike, G7 opts not to dip into emergency reserves for now
A worker is shown placing cones outside a gas station.

Oil prices spiked to near $120 US a barrel before falling back on Monday as the Iran war intensified, threatening production and shipping in the Middle East and pummelling financial markets.

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