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Commodities

Gulf Tensions Fuel Oil Price Surge Amid Tanker Attacks

Guavy AI Editorial Team
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Oil Wheat
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Oil prices have edged higher in morning trading as tensions escalate in the Persian Gulf following recent tanker attacks. The oil market remains well-supported, despite little sign of peace between the US and other countries. European gas prices are seeing more strength due to these events.

The Ukrainian Agriculture Ministry reported that grain and legume exports for the 2026/27 marketing year have fallen 14% year-on-year to 3.9mt as of September 4th. This decline is a result of ongoing conflicts in the region, affecting trade routes and supply chains.

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