Oil hits $110 per barrel again

Brent crude oil price has paused at $110 per barrel for the first time since May, amid concerns over escalating tensions in the Middle East that could lead to supply shortages. Brent crude rose by $3.94 (3.7%) to reach $109.86, while West Texas Intermediate crude reached $101.41, an increase of $3.44 (3.5%). During the week, Brent prices increased by 4.9%, and Texas Intermediate prices rose by 10.4%.

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