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Oil climbs, Brent set for 14% monthly gain
Oil prices rose significantly in September, with Brent crude increasing by approximately 14%, marking the largest gain since July. U.S. West Texas Intermediate (WTI) crude exceeded $106 for the first time since May. This followed a temporary decline due to recovering supplies from the Middle East, as Brent contracts rose by $1.14 to $103.73 per barrel, and WTI increased by 34 cents to $89.72. Additionally, the spread between the two benchmarks widened over the past four months, with expectations of ongoing increases.
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