Crude oil becomes more expensive in the global market Rising tensions in the Middle East,
Crude oil prices have recorded an increase in the global market, the main reasons for which are being attributed to rising tensions and geopolitical concerns in the region.
According to reports, oil prices are continuously rising in the global market due to threats from US President Donald Trump, the possible closure of the Strait of Hormuz, and the negative effects of the war situation related to Iran.
The price of Brent crude oil has increased by 2.2%, after which it has reached $111.43 per barrel. Similarly, the price of West Texas Intermediate crude oil has increased by 2.7%, to $114.57 per barrel.
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