Oil rises over 3% on Middle East tensions
Global oil prices have risen significantly due to escalating tensions between Iran and Israel, with Brent crude futures up by 3.03% to $95.93 a barrel, and West Texas Intermediate (WTI) crude increasing by 3.3% to $93.4. This rise comes amid military escalation in the region and Iranian threats. Additionally, the OPEC+ coalition announced an increase in oil production by 188,000 barrels per day starting in July to address potential risks to supplies.
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