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- 29 days ago

Crude Oil Jumps 1% on Geopolitical Risk in Europe, Middle East

By Adedapo Adesanya Crude oil settled more than 1 per cent higher on Tuesday due to escalating tensions in Europe and the Middle East as wars in both regions continue to pose a threat to global supply, with Brent crude futures expanding by $1.08 or 1.3 per cent to $85.33 per barrel and the US West Texas Intermediate (WTI) crude futures growing by $1.24 or 1.5% to $81.57 a barrel. According to Russian authorities and a Ukrainian intelligence source, prices increased after a big fire in a gasoline tank at an oil facility in Russia s southern port of Azov was


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