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Oil rises on Middle East supply worries
BEIJING: Oil prices edged higher on Wednesday on Middle East supply concerns, with traders wary of Red Sea shipping risks and threats to oil infrastructure in Saudi Arabia. Brent crude futures rose 85 cents, or 0.78%, to $109.64 per barrel as of 0022 GMT. US West Texas Intermediate (WTI) crude rose 76 cents, or 0.78%, to $98.58 per barrel. A supertanker caught fire after striking a sea mine south of the Strait of Hormuz while “violating” Iranian regulations, Iran’s Revolutionary Guards Navy said on Tuesday, according to Iranian media. There were at least 18 vessel attacks reported over two...
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