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Oil prices hit new high with 4% surge
Oil prices experienced a significant increase of over 4% at settlement, reaching their highest levels in more than a month. The futures for Brent crude rose by $3.87 to reach $88.10 per barrel, while the US West Texas Intermediate futures increased by $3.54 to $82.49. This rise comes after American strikes against Iran. Both benchmarks gained about 16% over the week, with Brent crude hinting at securing a third consecutive week of gains and US crude posting its second straight weekly rise.
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