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Commodities

Oil Prices Soar Past $100 Amid Middle East Tensions

Guavy AI Editorial Team
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Global oil prices surged to four-year highs on Thursday after Brent crude rose more than 6% to settle at $100.69 a barrel, according to FactSet data.

The price jump was attributed to heightened tensions between the US and Iran, as well as concerns over potential disruptions in Saudi Arabian oil exports through the Red Sea.

Yemen's Houthi militia had targeted two Saudi oil tankers in the Red Sea, threatening a key export route used by Saudi Arabia to bypass the Strait of Hormuz.

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