Brent crude surpasses $78 per barrel

Global oil prices posted a sharp increase amid renewed hostilities between the United States and Iran. The price of Brent Crude exceeded $78 per barrel for the first time since June 23.

According to trading data cited by Report, September futures for Brent crude rose by 5.31% compared with the previous close, reaching $78.10 per barrel.

August futures for WTI crude also increased by 5.37%, climbing to $74.22 per barrel.

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