Oil rises over 2% on supply concerns
Oil prices rose by more than 2% amid escalating fears of supply disruptions due to Houthi attacks on Saudi Arabia and Iranian attacks on Gulf ships, as well as the closure of a major Saudi oil pipeline. Brent crude increased by $2.90 to reach $107.51 per barrel, while West Texas Intermediate rose by $2.27 to $102.32, amid ongoing concerns about the impact of regional unrest on global energy supplies. This comes as prices surpassed the $100 mark for the first time since July, marking an approximately 8% increase over the past week.
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