Oil prices rise amid Middle East tensions
Oil prices rose today amid ongoing tensions in the Middle East and limited traffic through the Strait of Hormuz. Brent crude increased by 33 cents to reach $95.36 per barrel, while U.S. West Texas Intermediate (WTI) oil hit $93.06. Both benchmarks are on track to register their first weekly gains in three weeks, with WTI climbing more than six percent.
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