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Commodities

Oil Prices Surge Amid Escalating Tensions in Middle East

Guavy AI Editorial Team
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Oil
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International oil prices continued their upward trajectory on Thursday as escalating tensions in the Middle East intensified market concerns over global energy supplies.

The West Texas Intermediate (WTI) for October delivery gained 6.43 U.S. dollars, or 6.69 percent, to settle at 102.48 dollars a barrel on the New York Mercantile Exchange, surpassing the 100-USD mark.

Brent crude for November delivery also rose, increasing by 6.42 dollars, or 6.34 percent, to settle at 107.63 dollars a barrel on the London ICE Futures Exchange.

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