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Brent crude oil hits $110 as Iran escalates Strait of Hormuz attacks.
Brent crude futures hit an intraday high of $110 per barrel on Friday, the first time since May, closing up 3.7% at $109.86. West Texas Intermediate (WTI) crude rose 3.5% to $101.41 per barrel. This week, Iran attacked at least nine oil tankers and cargo ships in the Strait of Hormuz and sank the container ship GFS Pride, injuring three sailors and leaving two missing.
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