24 Hrs
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المشهد العربي
Oil surges over 3% on US–Iran tensions
Oil prices rose by more than 3% during trading, following military strikes between Washington and Tehran, and the imposition of restrictions on navigation through the Strait of Hormuz. The United States announced the bombing of the Oujek oil island, despite Iran's confirmation that production and exports would continue. Crude prices are expected to fluctuate between $85 and $95 per barrel, amid a decline in ship traffic through the strait and with Brent crude rising to $91.24 and Nymex to $86.31.
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