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Oil Prices Rise Amid Escalating Middle East Conflict and Asian Market Volatility
Oil prices rose noticeably as clashes in the Middle East intensified and tensions around the Strait of Hormuz continued. Brent crude increased by more than 2.3% to reach $85.18 per barrel, while U.S. crude climbed by 2.5% to $80.15. This came alongside U.S. strikes inside Iran and heightened concerns over potential disruptions to global oil supplies due to military operations in the region.
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