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Oil prices stay above $100 amid supply worries
Oil prices rose today, Tuesday, driven by concerns over supplies that increased following the Houthi attack on vital energy facilities and airports in Saudi Arabia, as well as the escalation of maritime attacks in the Arabian Gulf. Brent crude reached $110.10 per barrel after hitting $110.70 in the previous session, the highest level since May, while West Texas Intermediate oil increased to $103.91. Markets are worried about the impact of these threats on supply, with at least 18 ships targeted over the past two weeks, disrupting shipping routes and boosting risk premiums, amid expectations of a decline in US oil inventories.
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