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Oil prices rose on Friday, with Brent crude surpassing $115, due to Houthi attacks on Saudi energy facilities and heightened tensions in the Strait of Hormuz.
Oil prices rose in early Friday trading, with Brent crude futures up 0.75% to $115.74 per barrel and US WTI crude up 0.71% to $102.72. This follows claims by Yemen's Houthi rebels of attacks on Saudi Arabia's Ras Tanura and Rabigh refineries, as well as Saudi Aramco facilities in Abqaiq. Simultaneously, Iran's Islamic Revolutionary Guard Corps stated that three oil tankers struck mines and caught fire while using unauthorized routes south of the Strait of Hormuz, exacerbating market concerns about supply disruptions.
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