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Commodities

Oil Prices Soar Above $100 A Barrel Amid Ongoing US-Iran Tensions

Guavy AI Editorial Team
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Oil
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Oil prices have traded above $100 a barrel for the first time in months, causing a stir in global markets.

The price of Brent crude jumped 3.4% on Wednesday to surge above $100 a barrel, reaching $101.52 a barrel by Thursday morning.

This increase is largely due to ongoing tensions between the US and Iran, which have led to attacks on Iranian tankers and disruptions in oil shipments through the Strait of Hormuz.

US President Donald Trump has stated that oil prices are unlikely to fall until after the US midterm elections.

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