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Commodities

Oil Prices Surge Past $100 Per Barrel Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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The price of oil has surpassed $100 per barrel for the first time in almost six weeks due to ongoing tensions and attacks on oil facilities and ships in the Middle East.

The international standard for Brent crude settled at $97.89 before briefly climbing past $100 early Wednesday, according to market reports.

When oil prices spike, it can have a ripple effect on other commodities, including gasoline, diesel, and jet fuel, which are often used in transportation and shipping.

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