Oil Near $100 Amid U.S.-Iran Tensions
Oil prices have risen for the fourth consecutive day amid escalating military tensions between the United States and Iran, along with growing fears of disruptions to global energy supplies. This comes especially in light of Iran's attacks on ships and tankers in the Strait of Hormuz, through which approximately 20% of the world's oil supplies pass. The price of Brent crude has reached around $99.2 per barrel, with a similar increase in West Texas Intermediate crude, approaching $94, as markets await further developments in the security situation and its impact on navigation and oil supplies in the region.
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