Brent crude soars 9% amid $100 fears
Oil prices have risen significantly, with Brent crude and U.S. oil inventories increasing by over 9%. The price of Brent reached $95.85 per barrel, while U.S. crude oil climbed to $91.22. This surge is due to reduced supply and disruptions in navigation through the Strait of Hormuz, after Iranian oil tankers were targeted by the United States and Iran in an escalating escalation that could push prices above $100.
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