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Commodities

Crude Prices Skyrocket on Middle East Security Concerns

Guavy AI Editorial Team
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Oil
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Oil prices surged on global market reports, reaching as high as $104.68 per barrel for Brent crude contracts during trading hours.

The price hike came amidst heightened concerns over regional attacks and security risks to energy infrastructure and transport routes in the Middle East.

Analysts note that recent developments, including Saudi oil exports and potential negotiations between Iran and the US, have driven volatility in the oil market.

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