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Commodities

Oil Prices Rise on US-Iran Tensions and Israel's Threats

Guavy AI Editorial Team
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Oil
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The oil market rose on Thursday following heightened concerns about disruptions to Middle East supplies. The US strikes on Iran and renewed threats from Israel against Iran have sparked fears of supply disruptions.

Brent crude futures gained 15 cents or 0.16 per cent to $95.78 a barrel, while US West Texas Intermediate (WTI) crude futures rose by 63 cents or 0.69 per cent to trade at $91.64 a barrel.

Russian President Vladimir Putin indicated openness to peace negotiations with Ukraine, which could help ease concerns about Russian fuel supply disruptions if attacks on refineries decline and production normalizes.

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