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Oil prices rise on escalation in Middle East

  • Oil jumped to six‑week highs after U.S. strikes on Iran and renewed Israeli threats raised fears of Middle East supply disruptions.
  • Iranian officials reported dozens killed or wounded in the strikes, and Israel warned it could "cripple" Iran's infrastructure if attacked.
  • Fewer vessels transited the Strait of Hormuz and Iran expanded a blacklist of ships, adding shipping risk and support for higher oil prices.
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