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Global oil exceeds $90 amid US-Iran tensions
Oil prices have risen significantly, with Brent crude surpassing $90 per barrel for the first time since June, due to escalating tensions between the United States and Iran in the Middle East, which have led to restrictions on shipping through the Strait of Hormuz. The ongoing escalation between the two sides, including attacks and explosions on oil tankers, has heightened concerns over disruptions to global oil supplies, with expectations that markets will see even greater impacts in the coming weeks. The likelihood of continued escalation has increased, as analyses indicate that markets are still reacting calmly to the repercussions, despite the deteriorating security situation in the region.
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