Oil prices rise 6% this week amid renewed tensions
Oil prices rose today, Friday, achieving weekly gains of between 5% and 6%, due to renewed concerns over supply disruptions in the Middle East resulting from the fighting between the United States and Iran, which caused disruptions in shipping traffic through the Strait of Hormuz. Prices had also fallen midweek, but the level of confidence in the possibility of a diplomatic solution is influencing the market's direction.
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