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Oil Prices Soar Amid Fears of Energy Supply Disruptions

Guavy AI Editorial Team
Instruments
NYM
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WTI futures on NYMEX extended their opening gains in European trading on Monday, rising almost 3% to trade above $99.50.

The surge came as a major Saudi pipeline was shut down due to recent attacks and the postponement of a meeting between Iran and Gulf states aimed at establishing a temporary shipping corridor through the Strait of Hormuz.

Deutsche Bank analysts noted that these developments have reinforced market concerns around regional supply security and key shipping routes.

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