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Commodities

Saudi Strikes Send Oil Prices Soaring

Guavy AI Editorial Team
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Oil
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Oil prices surged on Monday after new strikes were reported in Saudi Arabia and at the Strait of Hormuz. Brent crude futures jumped $3.62, or 3.46%, to $108.23 per barrel as of 22:14 GMT (Sunday), while WTI futures rose $3.15, or 3.15%, to $103.20 per barrel.

The strikes on Sunday caused concerns about global oil supply and sent shockwaves through the market. The increase in oil prices is likely to have a ripple effect on other commodities and may also impact inflation rates.

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