Oil Prices Rise for Fourth Consecutive Day as Brent Surpasses $85
Oil prices have risen for the fourth consecutive week, amid ongoing concerns over a potential decline in global energy supplies due to escalating tensions regarding the Strait of Hormuz and attacks on ships near the Iranian coast. Brent crude increased by 0.4% to reach $85.28 per barrel, while US West Texas Intermediate rose by 0.5% to $80.02 per barrel, maintaining levels close to their highest in a month. The market remains vulnerable to fluctuations stemming from geopolitical tensions and potential disruptions in global oil supplies.
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