Oil prices have risen sharply on global markets, APA-Economics reports.
Brent crude oil November futures rose by $2.19, or 2.49%, to $90.29 per barrel.
US WTI crude oil October futures increased by $1.80, or 2.16%, to $85.20 per barrel.
The rise in oil prices is attributed to renewed tensions in the Middle East after the United States struck missile facilities on Iran’s Larak Island and Iran responded by attacking US forces.
Concerns over the security of oil shipments through the Strait of Hormuz are also putting pressure on prices.
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