Oil Prices Surge on Iran Crisis

Brent crude briefly spiked above $80 a barrel before settling back slightly, while US consumer borrowing unexpectedly declined for the first time since 2024.

Airlines and home builders were seen as particularly exposed to higher fuel costs.

Analysts warned that a prolonged conflict could push oil above $100 and undermine central bank efforts to control inflation.

European and Asian stock indexes fell sharply, with the Athens Stock Exchange suffering a mini sell-off.