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WTI Crude Surges to 3-Month High as Middle East Conflict Disrupts Global Supplies

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The Story

News Summary

  • Crude oil jumped to three-month highs as US-Iran clashes in the Strait of Hormuz and Houthi strikes on Saudi oil infrastructure disrupted critical supplies.
  • With Vitol and the IEA highlighting worsening global deficits and multi-million barrel-per-day production losses, supply concerns and a softer dollar continue fueling energy gains.
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