Washington: Due to ongoing tensions in the Red Sea, there has been an approximately 1% increase in crude oil prices.
According to sources, the tensions in the Middle East persist due to aggression in Gaza, leading to attacks by Houthis on maritime vessels in the Red Sea in response to the Israeli aggression, leading to a recorded 1% increase in oil prices.
Brent crude oil rose by 71 cents or 0.89%, reaching $80.10 per barrel, while American West Texas Intermediate recorded a price of $74.70 per barrel with an increase of 81 cents or 1.1%.
Further maritime vessels are avoiding the Red Sea due to attacks on ships carried out by Houthis. It is noteworthy that the Houthis claim to be targeting ships in response to Israeli aggression in Gaza.
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