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Oil climbs amid Middle East supply concerns
The renewed fighting between the United States and Iran in the Middle East has led to a significant increase in oil prices, with Brent crude futures and U.S. inventories reaching their highest levels in several weeks. Attacks and security threats have disrupted oil supplies through the Strait of Hormuz, one of the key global shipping routes, adding to the uncertainty in the energy market. Experts have indicated that ongoing tensions in the region are likely to push oil prices above $80 per barrel by 2026, due to concerns over shipping disruptions and crude supply interruptions.
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