Oil hits three-week high near $94

Oil prices have risen to their highest levels in three weeks, nearing $94 per barrel, due to concerns over potential disruptions in energy supplies caused by political deadlock and tensions in the Middle East. This reflects expectations that navigation and trade disruptions in the region will continue, with increasing fears over the impact of the war and its repercussions on oil exports and refined supplies, despite American crude inventories increasing by 4.4 million barrels.

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