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Oil prices rose to a six-week high on Monday after exchanges of fire between the US and Iran and an attack on Saudi Aramco facilities.
Brent crude futures rose 1.3% to $97.52 a barrel on Monday, after touching $97.93 a barrel earlier in the session, their highest since July 23. U.S. WTI crude futures rose 1.3% to $92.68 a barrel, briefly breaking above $93 a barrel during the session, also hitting a new high since late July. This follows Saturday's U.S. military strikes on three Iranian oil tankers in response to Iran firing ballistic missiles at two naval warships. Additionally, Saudi Aramco's oil facilities in Jizan, Saudi Arabia, were hit by a new round of attacks on Monday, with damages currently being assessed, according to the Financial Times.
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