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WTI Crude Oil Surges Over 3% as Middle East Tensions Escalate, Driving Market Risk Premium

BlockBeats News, July 13th, according to Bitget market data, WTI crude oil recorded a daily gain of 3.26%, reaching $73.81.

The uptick in oil prices is believed to be driven by renewed tensions in the Middle East, as the escalating conflict between the US and Iran has raised concerns about the security of the Strait of Hormuz's transportation and global oil supply, leading to a rapid rebound in oil risk premium.

#Bitget #USA #Iran

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