Oil prices rise close to 3%

Oil prices rose sharply, with Brent crude jumping over 2.5 percent to exceed $90 a barrel. This came amid escalating tensions between the United States and Iran, following a U.S. attack on Iran's Larak Island in the Strait of Hormuz, which Iran responded to. The escalation follows a month of ongoing conflict between the two countries, leading to rising futures contracts and expectations of further volatility in the oil market.

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