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US West Texas Intermediate (WTI) crude futures climbed by $1.09, or 1.56%, to $70.92 per barrel due to fears of Middle East oil supply disruptions after Iran launched ballistic missiles at Israel. Brent crude rose by $1.86, or 2.6%, to $73.56. The conflict escalates concerns over potential disruptions from Iran, a major OPEC producer, which recently hit a six-year high in oil output.
