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Brent crude exceeds $100 ahead of fourth weekly rise
Oil prices surged above $100 per barrel for Brent crude, heading for a fourth consecutive week of gains, amid concerns over potential disruptions to energy flows in the Red Sea and escalating tensions between the United States and Iran. Warnings have been issued about threats to oil shipments through the Strait of Hormuz and the limited number of tankers passing through the strait. Additionally, the Iran-backed Houthi rebels announced the targeting of two Saudi oil tankers, raising fears of further escalation in the regional conflict, which has contributed to a significant rise in oil prices.
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