Enoc: Oil insurance up 5-6% amid Iran conflict
Oil prices rose by 3% due to concerns over potential declines in supply amid renewed tensions in the Middle East, particularly after Iran announced its conditions for opening the Strait of Hormuz and heightened the prospects of escalation in the region. Meanwhile, gold continues to record weekly gains supported by geopolitical and economic worries. In another development, an American citizen revealed a brutal assault by settlers on his passport, reflecting ongoing tensions in Palestine, where security incidents and national celebrations are escalating in the region.
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