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US crude oil hits five-month high
Oil prices have risen significantly amid ongoing tensions in the Middle East, with West Texas Intermediate futures jumping to around $110.48 per barrel, reaching their highest level in five months. This increase occurs as contract expiration approaches and attacks on tankers accelerate, along with political sensitivities between Iran and the United States. Brent crude also increased to $111.67, marking its highest since May, amid escalating attacks on commercial ships in the Strait of Hormuz and Iran's preparations to respond to any American attack. These developments are driven by factors such as declining oil exports from the region and rising American demand for crude.
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