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Brent crude jumps more than 5% on new Mideast concerns

World News

08-06-2026 | 03:16

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Brent crude jumps more than 5% on new Mideast concerns

Brent crude prices surged more than five percent Monday after Israel and Iran exchanged strikes, testing a fragile truce and threatening hopes for a deal to end the Middle East crisis.

The contract for August jumped 5.1 percent to $97.83 a barrel, while West Texas Intermediate climbed 4.8 percent to hit $94.85.

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