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Oil Price Hits $102

Summary by VG
Oil prices are ticking upwards to their highest level since May. But next year there will be an oil surplus and lower prices, the US EIA believes.

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Oil Price Hits $102

Oil prices are ticking upwards to their highest level since May. But next year there will be an oil surplus and lower prices, the US EIA believes.

·Oslo, Norway
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The escalation of operations in the Strait of Hormuz led to a sharp rise in Brent to $102 per barrel - The domestic market "anticipated" the rise, after significant increases were recorded in recent days and... the worst is yet to come

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The price of Brent oil is on the verge of reaching $104 with an upward trend.

Escalating tensions in the Middle East have driven oil prices to record highs. Brent crude reached its highest level since May due to the intensifying conflict.

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tgrthaber.com broke the news on Thursday, September 10, 2026.
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