Oil surges 6.7% amid Middle East tensions
Oil prices surged significantly after U.S. President Donald Trump threatened a strong response to a surprise attack aimed at American forces in the Middle East, sparking fears of potential disruptions to global oil supplies. Brent crude rose by 6.7% to reach $89.75 per barrel, while West Texas Intermediate increased by 6.4% to $84.31. This price increase is driven by concerns over escalating security tensions in the region and their impact on oil production and storage, alongside expectations of a tightening American monetary policy.
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