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Crude Oil Surges Past $97 as US-Iran Escalation Sparks Severe Supply Fears

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The Story

News Summary

  • Crude oil jumped above $97 per barrel to multi-month highs as escalating US-Iran conflict and Houthi attacks on Saudi energy facilities sparked severe supply disruption concerns.
  • With both sides intensifying military actions and signaling no near-term de-escalation, geopolitical risk premiums are sharply elevating oil prices.
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