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Commodities

Oil Prices Soar Amid Ongoing Middle East Tensions

Guavy AI Editorial Team
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Oil
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Oil prices continued their upward trend on Thursday morning, with Brent crude trading at around $102.37 per barrel and WTI crude approaching $100.

The increase in oil prices is due to concerns over supply disruptions in the Middle East, particularly after Iran's Revolutionary Guard warned of further retaliation against US forces.

The Strait of Hormuz, a critical shipping route, has seen reduced oil flows since the conflict began, and attacks on tankers have increased, making it difficult for tanker traffic to normalize.

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