Oil prices rise with US-Iran tensions

Oil prices have risen by more than three dollars per barrel amid escalating geopolitical tensions in the Middle East. The United States and Saudi Arabia conducted joint strikes in Iraq, Iran intercepted ballistic missiles targeting American forces, and the Iranian Revolutionary Guard claimed responsibility for launching missiles at an American command center in Jordan. Additionally, U.S. oil inventories decreased by approximately 3.3 million barrels, amid expectations that OPEC+ will not increase production for three months starting in October.

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