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Oil nears $100 amid US Iran tensions
Oil prices experienced a significant rise amid escalating tensions between Iran and the United States. Brent crude futures increased by 1.71% to approximately $99.59 per barrel, while West Texas Intermediate (WTI) rose by 1.34% to $94.35. These gains occurred against the backdrop of deteriorating regional conditions, with the Iranian Revolutionary Guard announcing the targeting of two American destroyers and a base in Jordan with ballistic missiles in response to American attacks on Iranian oil tankers. Additionally, U.S. forces destroyed five Iranian oil tankers after an attempt to attack a U.S. warship with ballistic missiles. It is expected that the intensification of these confrontations will lead to continued fluctuations in oil prices, potentially disrupting global energy supplies.
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