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Crude oil prices spike as a broadening Iran war threatens both transport routes and production

Oil prices continued to soar on Monday as the Iran war intensified, threatening production and shipping across the Middle East and straining energy supplies worldwide. The price of Brent crude, the international benchmark, briefly surged to $119. 50 per barrel on Monday — its highest level since the summer after Russia invaded Ukraine in 2022. West Texas Intermediate, which is produced in the U. S. , also soared to $119. 48 per barrel at one point. Those prices fell under the $100 mark later...

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