The price of oil rose above $98 for the first time since June 3

Global oil prices have been rising by 5% since the beginning of the new week, and the cost of a barrel of Brent crude oil has risen above $98 for the first time since June 3, according to trading data.
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The price of August futures for Brent crude oil jumps by 5.12% relative to the previous close – to 97.86 dollars per barrel, minutes earlier the indicator reached a maximum of 98.07 dollars – above 98 dollars for the first time since June 3.

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The price of July WTI futures is increasing by 5%, to $95.07.

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Hours earlier, this growth reached 3%. And according to the experts who commented on it, the main reason is another escalation in the Middle East.

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The day before, Iran fired several rockets at northern Israel. Later, the Israel Defense Forces (IDF) announced strikes against military targets in the central and western parts of Iran.