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Oil Prices Soar on Supply Risks and Geopolitical Tensions

Guavy AI Editorial Team
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Oil
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Oil prices have surged on supply risks and geopolitical tensions, with Brent crude settling above $96 per barrel. This marks a significant weekly gain for oil futures, with Brent up nearly 8% and West Texas Intermediate (WTI) advancing almost 10%. The gains are attributed to ongoing disruptions to Middle East supply routes and renewed military exchanges between the US and Iran.

As tensions in the region continue to escalate, financial markets will be closely watching developments in the Strait of Hormuz. Any signs of further disruption to energy supplies could influence risk sentiment and oil prices.

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