Crude Hits $100 Mark
New York: The price of Brent crude oil futures (for July delivery) surged by over 6% at one point, crossing the $100 mark. This is the first time Brent oil has reached $100 since May 26. The rate for US West Texas Intermediate (WTI) futures also rose by more than 5%, reaching $91.08. The primary reasons for this spike were reports of large-scale attacks by Houthi rebels on tankers in the Red Sea and a warning from the US that it would take strong action against Iran.
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