Bulgaria summoned Russia’s ambassador to Sofia after two ships were hit off the country’s coast, as concerns mount over the security of Black Sea shipping.

Attacks on commercial vessels off the Black Sea’s western coast are on the rise, threatening already-choked trade flows in the region while testing NATO’s readiness to react.

NEW YORK: Oil prices climbed in early trading Wednesday, building on the previous session’s sharp gains, as overnight military exchanges between the United States and Iran escalated tensions in the Middle East and revived fears of supply disruptions through a critical global shipping chokepoint. Brent crude futures rose $1.03, or 1.1%, to $95.68 a barrel ... Read more

The post Oil prices surge as US-Iran strikes heighten supply fears appeared first on BOL News.