Crude Oil Surges Past 100
Oil prices have risen above $100 per barrel and are on track to mark the fourth consecutive weekly gain, driven by growing concerns over supply disruptions across the Red Sea and the Strait of Hormuz, as well as escalating tensions with Iran amid the US-Israeli conflict. Brent crude reached $101.06 per barrel after an increase of 0.37%, with weekly gains expected to reach 14.6%. Meanwhile, West Texas Intermediate remained steady at $91.20, with weekly gains anticipated to amount to 11.8%.
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