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Oil prices surge 3% as Trump threatens Iran with another ‘Epic Fury’ attack
🇳🇬 Nigeria · Economy · 12 h ago
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24.10 09:24 UTC
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Market analysts noted that fears of supply disruptions drove the advance after Iranian-backed Houthi rebels carried out a series of attacks across Saudi Arabia, including on energy infrastructure.
On Thursday, Saudi Aramco ordered the evacuation of its headquarters in Dhahran on the Gulf near Bahrain, after fighting intensified between Saudi Arabia, the world’s largest crude exporter and Yemen-based Houthis.
Meanwhile, in the United Arab Emirates (UAE), an oil spill from a tanker was detected off the coast of Umm Al Quwain.
President Donald Trump said on Friday the US could end the war with Iran quickly, but said perhaps it should allow the conflict to gradually wind down.
The developments have heightened concerns about the vulnerability of energy supplies and shipping routes across the Middle East, where disruptions could affect crude exports, transportation costs and the availability of petroleum products.
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