Crude oil exceeds $107

Oil prices surged significantly amid escalating concerns over global crude supplies, following attacks on Saudi Arabia and ships in the Gulf, as well as the closure of the Saudi oil pipeline between the East and West, potentially leading to a loss of up to 4% of global supply. Brent crude rose by $2.90 to reach $107.51 per barrel, while West Texas Intermediate increased by $2.27 to $102.32, amidst rising tensions that threaten the stability of the global oil market.

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