Brent crude oil up 8 percent
Oil prices continued to rise significantly after attacks in the Red Sea sparked fears of disruptions in crude supplies, which are already facing a shutdown in the Strait of Hormuz. Brent crude surged by 8.36% to reach $101.93 per barrel, the highest level since May, while West Texas Intermediate (WTI) oil price reached $93.44, an increase of 7.61%. Additionally, the price of Kuwaiti oil per barrel rose by $7.32 to $94.71.
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