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Oil prices reach one-week high
Oil prices have risen significantly to reach their highest levels in a week, amid ongoing tensions in the Middle East and Russia that are affecting global oil supplies. This comes after statements from Iran indicating that the closure of the Strait of Hormuz will continue unless Washington accepts its conditions. Additionally, vessel traffic through the strait has decreased to six ships due to Houthi attacks on vessels in the Bab el-Mandeb Strait and the escalation of conflicts in Libya and Russia. Markets also anticipate a decrease in U.S. oil inventories by half a million barrels for the second week in three weeks, reflecting investors' concerns about supply disruptions.
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