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Commodities

$100 Oil: Tensions Between US and Iran Send Global Prices Soaring

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Oil
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Oil prices surged on Wednesday as Brent crude futures broke through the $100-per-barrel threshold, climbing 2.2% amid escalating tensions between the US and Iran.

The international benchmark surpassed $100 per barrel at 0730 GMT, building on gains driven by concerns over potential disruptions to oil supplies.

The price of West Texas Intermediate (WTI) also rose 1.5% to $94.5 per barrel.

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