Oil reaches six-month peak

Oil prices surged significantly, reaching their highest levels in six months amid expectations that the United States will resume strikes on Iran as military tensions in the region escalate. This led to a 2.6% increase in Brent crude to $116.13 per barrel and a 3% rise in West Texas Intermediate to $102.56 per barrel. The Chief of Staff of the Iranian Army also confirmed that the forces are prepared to wage an "unequal war" after strengthening their capabilities, amidst escalating tensions in the region and forecasts of weekly gains in oil prices of up to 6% for Brent and 1% for U.S. crude.

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