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Commodities

Oil Prices Surge Amid Middle East Supply Disruptions

Guavy AI Editorial Team
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Oil
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Oil prices continued to rise on Monday due to concerns about supply disruptions in the Middle East. The Strait of Hormuz, which carries a fifth of the world's oil supply, has seen attacks between the US and Iran.

Brent crude futures were up by 52 cents at $96.80 a barrel, while US West Texas Intermediate (WTI) crude futures rose by 66 cents to $92.14 a barrel.

The previous week saw Brent crude gain 7.8% and WTI rise nearly 10%, following the resumed attacks between the two nations.

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