Oil prices surge as US and Iran launch fresh strikes
Oil prices rose more than 3 per cent on Monday after the US and Iran exchanged fresh strikes as negotiations to end the more-than-three-month-old Middle East war continued. Brent, the benchmark for two thirds of the world's oil, was up 3.33 per cent to $94.15 a barrel at 12.04pm UAE time. West Texas
AI Translated Summary:
Oil prices increased significantly due to renewed military actions between the US and Iran amidst ongoing negotiations to resolve the Middle East conflict. This surge reflects the volatility in global oil markets influenced by geopolitical tensions.
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