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WAR IN THE MIDDLE EAST

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The US will extract 172 million barrels from its strategic oil reserves

Following the latest attacks on ships passing through the Strait of Hormuz, the price of a Brent barrel has risen by more than $100. 

BERLIN (Germany), 09/03/2026.- A mobile application displays the current crude oil prices on a mobile phone screen in Berlin, Germany, 09 March 2026. Fueled by the escalating conflict in the Middle East, the international oil benchmark, Brent Crude, surged past 100 US dollars per barrel on 09 March 2026. (Alemania) EFE/EPA/FILIP SINGER

The benchmark Brent barrel in Europe is back above $100.

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