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Brent crude exceeds $117
The global oil market remains forgiving, led by Brent crude oil, which reached a record high exceeding $117 per barrel for the first time since March, an increase of nearly 3%. This rise is attributed to growing concerns over supply disruptions caused by military tensions in the Middle East, particularly in the Strait of Hormuz and strategic energy corridors. These developments have raised fears among markets about the ongoing decline in shipments and their impact on global inflation, as well as rising costs for fuel and goods.
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