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Commodities

Iran Strikes US Forces, Sending Oil Prices Soaring

Guavy AI Editorial Team
Instruments
Oil
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Oil prices surged following renewed tensions in the Middle East after Iran launched an attack on US forces using ballistic missiles. The U.S. Central Command reported that Islamic Revolutionary Guard Corps forces fired multiple missiles from Iran, targeting American bases in the region.

The strike led to retaliatory action by US and Saudi forces, who struck 'multiple terrorist logistics and weapons sites' in eastern Iraq.

The price of Brent crude futures rose 3.42% to $86.97 a barrel, while West Texas Intermediate futures advanced 3.58% to $82.09 per barrel.

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