Oil rises to three-week high

Oil prices have risen to their highest levels in three weeks amid fears of ongoing supply disruptions due to tensions in the Middle East, especially with the escalation of the crisis between Iran and the UAE. Brent crude increased to $94.06 per barrel, and West Texas Intermediate to $87.67, marking the largest gains since July 24. Concerns remain about the repercussions of the war and its impact on global oil supplies. Additionally, fuel inventories continue to decline, while oil storage data remains mixed.

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