Oil Prices Surge Amid Middle East Tensions
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Oil prices have surged to multi-month highs due to escalating tensions in the Middle East. Recent attacks by Houthi rebels in Yemen, backed by Iran, on Saudi targets, along with reports of potential new US strikes on Iran, have raised concerns about supply disruptions. Brent crude prices have risen by over 2% to approach $111 per barrel, while West Texas Intermediate (WTI) has also increased by over 2% to reach $99 per barrel. The US State Department has ordered the evacuation of non-essential personnel from Saudi Arabia and other Gulf countries, further heightening concerns.
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