Brent crude nears $100 level

Brent crude oil prices rose above $97 per barrel, reaching their highest level in nearly six weeks. This increase was driven by escalating military tensions in the region and growing fears of disruptions to navigation and oil supplies through the Strait of Hormuz. The rise followed a series of intensified attacks on oil tankers and ships in the area, which led to a slowdown in maritime traffic and heightened market concerns—especially after Iran announced its intentions to establish a new restricted zone and a new maritime route through the strait.

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