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Oil exceeds 110 amid Middle East supply concerns
Oil prices have risen sharply, with Brent crude surpassing $110 per barrel, amid escalating concerns over supply disruptions in the Middle East due to the ongoing conflict between the United States and Iran, despite ongoing exports through the Strait of Hormuz. Since the beginning of the year, oil prices have increased by approximately 80% due to disruptions in Gulf oil flows and the impact of the conflict, with some tankers attempting to avoid detection. Market concerns remain about the stability of supplies amid the escalation of military tensions in the region.
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