Oil rises over 6% to surpass $107
The article discusses a significant surge in oil prices, which have risen by over 6%, with Brent crude surpassing $107 per barrel. This increase is driven by fears of disruptions in crude supplies due to escalating attacks on ships in the Middle East, particularly through the Strait of Hormuz. The rise is attributed to growing market concerns over the impact of escalating tensions between the United States and Iran, as well as attacks on oil tankers in the region, posing a threat to global oil supplies.
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