Oil prices

 Crude oil price tops $111 per barrel

Crude oil prices climbed sharply again on Monday as geopolitical tensions intensified and there was little progress on reopening the key shipping route through the Strait of Hormuz. Brent crude rose 1.9 percent to above $111 per barrel, while U.S. WTI crude surged 2.3 percent to nearly $108 per barrel. Oil prices had already gained nearly 8 percent last week amid concerns that prolonged disruptions in Gulf shipping could tighten global supplies and worsen.


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