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Oil prices surged following renewed clashes between the United States and Iran in the Middle East, with Brent crude futures rising by 0.8% to $72.57 per barrel, and West Texas Intermediate increasing by 1.3% to $70.11. These gains came after a previous decline of 10.6% last week, amid rising oil shipments through the strait to the highest level since the start of the conflict in the region.
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