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LONDON: Global oil prices surged toward $90 per barrel today after experiencing sharp declines earlier in the session. Brent crude fell 14.07% to $84.22 per barrel, while WTI crude dropped 16.04% to $79.26 per barrel, reflecting extreme market volatility. In just two hours, prices swung dramatically—falling $10 per barrel before rebounding by $11.
The fluctuations come amid escalating tensions in the Middle East. U.S. President Donald Trump said the conflict with Iran is nearing its conclusion, claiming that American forces have largely achieved their objectives. He added that operations targeting Iran’s drone manufacturing facilities have begun and are progressing faster than initially planned.
Markets remain jittery as investors react to both geopolitical risks and sudden price swings, underscoring the fragile balance in the region’s energy landscape.
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