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The ongoing Iran-Israel conflict has led to significant fluctuations in global financial markets, with energy prices surging and the US dollar strengthening. European natural gas prices increased over 50% following Iranian attacks on key gas processing facilities, while crude oil prices spiked due to concerns about supply disruptions in the Strait of Hormuz.
A view shows oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia, on June 4, 2023
Credit: Reuters
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