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Brent crude price rises 5.3% after Trump's announcement ending Iran ceasefire
The statements by U.S. President Donald Trump regarding the end of the ceasefire with Iran led to a significant increase in global oil prices. Brent crude rose by 5.3% to reach $78.09 per barrel, while West Texas Intermediate increased by 5.4% to $74.23. This comes amid escalating military tensions between the United States and Iran in the Gulf region, including airstrikes on Iranian sites and Iranian responses targeting U.S. facilities in Bahrain and Kuwait.
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