Oil hits $110 a barrel for first time since May
Oil prices have risen significantly, with Brent crude reaching $110 per barrel for the first time since May, due to concerns over potential supply disruptions. Brent futures closed at $109.86, their highest level since May 19, while West Texas Intermediate increased to $101.41, the highest since September 17. Since the start of the week, Brent has climbed by 4.9%, and WTI by 10.4%, reflecting growing fears of market volatility in the oil sector.
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