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AL24 News
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Oil prices rose to their highest levels in several weeks amid ongoing tensions in the Middle East. Brent crude reached $98.25 per barrel, and West Texas Intermediate $93.70, driven by concerns over persistent conflict and warnings from Iran about responding to any American attacks, which threaten to disrupt supply. Sources estimate that market risks could persist until 2026 and 2027, with efforts concentrated on alternative solutions for transporting oil through routes bypassing the Strait of Hormuz, including dedicated shipping operations and pipelines.
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