Oil climbs over 3 percent amid supply worries
Oil prices rose by more than 3.7% at the close, amid concerns of escalating tensions in the Middle East that could threaten global oil supplies. Expectations also include Russia potentially depleting its diesel stockpiles in international markets. The International Energy Agency approved the release of over 20 million barrels of fuel into the markets, while the U.S. Department of Energy announced a solicitation for offers to exchange up to 17 million barrels of crude oil from the Strategic Petroleum Reserve.
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