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Oil Prices Spike Amid Escalating Middle East Tensions

Guavy AI Editorial Team
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Oil prices rose on Thursday after U.S. strikes against Iran and renewed Israeli threats against Tehran revived concerns about disruption to Middle East supplies.

The U.S. West Texas Intermediate crude futures rose $0.69, or 0.69%, to $91.64 a barrel, while Brent crude futures were up $0.16, or 0.16%, at $95.78 a barrel by 1:00 p.m. ET (1700 GMT).

The attacks on Tuesday night resulted in 18 people killed and 108 wounded in Iran, according to the country's health minister.

Israeli Defence Minister Israel Katz renewed warnings that Israel would 'cripple' Iran's military and civilian infrastructure, including energy facilities, if Tehran launched attacks against it.

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