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Oil prices surged to their highest levels in months due to escalating conflicts between Iran and Israel, with significant attacks on tankers in the Strait of Hormuz disrupting global oil shipments. Brent crude reached $82.37 a barrel, while West Texas Intermediate climbed to $71.86, as traders anticipated further supply constraints from the region.
An aerial view of the Iranian shores and the island of Qeshm in the strait of Hormuz, December 10, 2023. File
Credit: REUTERS/Stringer
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