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Oil Prices Rise Over 5% After New American Strikes on Iran
Oil prices rose by more than 5% following new American strikes on Iran and the re-imposition of a maritime blockade on its ports. Brent crude increased by 5.1% to reach $87.51 per barrel, while West Texas Intermediate rose by 3.9% to $81.21. These price hikes come amid ongoing military escalation by the United States against Iran and heightened tensions in the Gulf region.
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