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Brent crude oil hits four-year high of $116.20 amid US-Iran escalation fears
Brent crude, the international oil benchmark, has climbed to $116.20 per barrel, its highest level since June 2022. US benchmark West Texas Intermediate (WTI) also increased to $102.50 per barrel, marking a five-week high. The price surges are driven by fears of further US-Iran escalation.
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