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Oil gains as Lebanon and Israel refuse ceasefire
Military tensions in the Middle East persist after Hezbollah's rejection of a ceasefire with Israel, leading to a rise in oil prices. Brent crude climbed to $95.75 per barrel, while West Texas Intermediate reached $90.47, with weekly gains expected to range between 3% and 6%. The ongoing clashes and retaliatory attacks between Israel and Hezbollah are preventing progress in diplomatic negotiations between the United States and Iran, amid escalating military operations and diminishing hopes for a lasting peace in the region.
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