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Brent exceeds $102 amid Iran strike risks
Oil prices rose significantly after a report stated that the White House requested the U.S. Department of Defense (Pentagon) to prepare options for striking Iran before the midterm elections, amid some U.S. production being halted due to a hurricane. Brent crude surpassed $102 per barrel, while West Texas Intermediate approached $90. The market remains concerned about the potential for military escalation and increasing tensions in the region, along with supply disruptions from the Middle East and reduced Gulf of Mexico production caused by the storm.
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