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US-Iran Tensions Boost Gulf Oil Prices
The escalation of the military conflict between the United States and Iran in the Middle East has led to a rise in global oil prices, especially in the Gulf countries. The price of a barrel of Kuwaiti oil increased by $2.58 to reach $84.83, while Brent crude futures rose to $89.22. Omani oil prices also climbed to $81 after an increase of $2.34. This military escalation reflects a direct impact on energy markets and the rising oil prices regionally and globally.
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