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Commodities

US-Iran Tensions Spark Oil Price Surge

Guavy AI Editorial Team
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Oil
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Oil prices surged on Tuesday as tensions between the US and Iran escalated, prompting worries about disrupted crude flows from the Middle East.

Brent crude futures rose by $0.80, or 0.88%, to $91.29 per barrel, while US West Texas Intermediate (WTI) crude advanced $0.99, or 1.15%, to $86.75 per barrel.

The uptick followed a strong rally on Monday, with Brent settling 2.7% higher and WTI rising roughly 3% to its highest point since August 21.

US President Donald Trump threatened additional military action against Iran after the US and Iran engaged in direct strikes for the first time in nearly a month.

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