Oil rises above 100 dollars for the first time since July
Oil prices rose significantly as the risks of conflict in the Middle East continued to escalate, with the price of a barrel surpassing $100, marking the largest weekly increase since July. The surge in oil prices boosted the value of the dollar against other currencies, while markets remained cautious in currency trading, especially as the yen's rise paused. An Omani economist expects ongoing regional turmoil to keep oil prices and inflation elevated.
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