For the first time since July, oil prices are surging, with Brent crude reaching $100 per barrel. West Texas Intermediate (WTI) crude is trading around $94. The surge comes amid escalating conflict in the Middle East between Iran, the United States and its regional allies. The U.S. Central Command announced overnight that it destroyed five Iranian oil tankers. Subsequently, sirens were reported in Jordan and interceptions were observed over Israeli skies.
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