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Oil gains as Middle East tensions rise
Oil prices rose by more than one percent in early trading due to renewed fighting in the Middle East, as Iran launched missiles at Kuwait and Bahrain. Efforts at de-escalation have failed, and there has been no progress in negotiations between Iran and the United States. Brent contracts increased to $97.05 per barrel, and West Texas Intermediate rose to $94.77, with the market closely monitoring the military and political developments in the region.
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