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2026-07-13T15:13:12.577Z

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Oil Prices Rise Over 2% Amid Escalating Military Tensions

Oil Prices Rise Over 2% Amid Escalating Military Tensions

Oil prices rose significantly due to the military escalation between the United States and Iran. Brent contracts increased to $77.68 per barrel, while West Texas contracts went up to $73. The market was affected by concerns over potential disruptions to oil supplies through the Strait of Hormuz amid tensions in the Gulf.

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