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Oil Jumps Over 2% to More Than $95/Barrel as Conflict Threatens Transit

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Brent crude climbed above $95 a barrel as US-Iran hostilities and Houthi threats to Red Sea shipping heightened fears of major oil supply disruptions.

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Oil Jumps Over 2% to More Than $95/Barrel as Conflict Threatens Transit

Oil prices surged on Thursday, with Brent crude climbing above $95 a barrel. The increase was driven by heightened tensions between the US and Iran, as well as Houthi threats to Red Sea shipping. The conflict has raised fears of major oil supply disruptions, with Brent crude prices climbing 2.1% to $95.14 a barrel. The US has imposed sanctions on several Iranian officials and entities in response to the attacks on oil tankers, while Iran has threatened to launch more attacks across the Gulf region. The conflict has also raised concerns about the stability of the global oil market.

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Oil Jumps Over 2% to More Than $95/Barrel

Brent crude has climbed above $95 a barrel as US-Iran hostilities and Houthi threats to Red Sea shipping heighten fears of major oil supply disruptions. The price increase is a result of the ongoing conflict between the US and Iran. The conflict has raised concerns about the stability of oil supplies and the potential impact on the global economy. The price increase is a reminder of the importance of finding a peaceful resolution to the conflict.

Business Standard

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