Oil rises over 3% on US-Iran tensions
Global oil prices rose by more than 3%, with Brent crude reaching $87.39 per barrel and West Texas Intermediate increasing to $82.31. This surge comes amid escalating tensions between Washington and Tehran. The increase followed the U.S. intercepting Iranian missiles headed toward its forces in the region, raising concerns over supply disruptions due to intensifying clashes and shipping lane disturbances in the Strait of Hormuz, along with a decline in U.S. oil inventories.
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