Brent crude oil prices have surged to over $120 per barrel, marking the highest level since March 2022. This increase is attributed to ongoing geopolitical tensions involving the United States, Israel, and Iran, which have contributed to market instability. Additionally, US West Texas Intermediate futures have also risen, reaching $108.34 per barrel, the highest price recorded since April. The current situation has raised concerns about supply disruptions and heightened demand in the global oil market.
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