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Crude Oil Jumps 3% After Strait Of Hormuz Strikes

Crude oil prices surged today amid supply disruption concerns following fresh attacks in the Strait of Hormuz and Gulf region. Brent futures jumped 3% to $107.74 a barrel, while WTI gained 2.88% to $102.93. The rise followed reported Houthi attacks in Saudi Arabia and a projectile strike on a vessel in the Strait that caused a fire and forced its crew to evacuate.