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Commodities

US-Iran Conflict Sparks Oil Price Surge Amid Middle East Tensions

Guavy AI Editorial Team
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Oil
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Oil prices surged on Thursday following US strikes against Iran and renewed Israeli threats against Tehran.

The attacks, which took place on Tuesday night, killed at least 18 people and injured over 100 in various parts of the country.

The war between the US and Iran has been ongoing for seven months, with the latest escalation coming after US-Israeli strikes at the end of February.

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

Ole Hansen from Saxo Bank attributed the increase in oil prices to Katz's comments.

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