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GLOBAL OIL PRICES HAS RISEN AS IRAN CONTINUES TO LAUNCH STRIKES ACROSS THE MIDDLE EAST IN RESPONSE TO ONGOING ATTACKS BY THE US AND ISRAEL.
BRENT CRUDE, THE GLOBAL BENCHMARK FOR OIL PRICES, JUMPED BY 10% TO TOUCH MORE THAN 82 DOLLARS A BARREL BEFORE EASING AFTER AT LEAST THREE SHIPS WERE ATTACKED NEAR THE STRAIT OF HORMUZ AT THE WEEKEND.
HOWEVER, IRAN HAS WARNED VESSELS NOT TO PASS THROUGH THE CRUCIAL WATERWAY IN THE SOUTH OF THE COUNTRY, THROUGH WHICH ABOUT 20% OF THE WORLD'S OIL AND GAS IS SHIPPED.
REPORT HAS IT THAT IN LONDON, THE FTSE 100 STOCK MARKET INDEX OPENED NEARLY 1% DOWN WITH AIRLINES SEEING THEIR SHARES PRICES FALL AFTER AIRSPACE WAS CLOSED ACROSS THE MIDDLE EAST.
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Rachel Salami
Corp Member
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