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America-Iran Tensions Raise Oil Prices; Will Diesel Prices Increase Further?
Global oil prices rose significantly today, Wednesday, July 8th, following renewed tensions between the United States and Iran. This led to Brent crude surpassing $78 per barrel and an increase in West Texas Intermediate crude, amid concerns over potential disruptions to oil supplies, particularly through the Strait of Hormuz, as a result of escalating tensions in the Middle East.
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