Oil rises as markets assess supply risks

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Oil rises as markets assess supply risks

Oil pricesin early trading on Tuesday, supported by supply concerns.

Brent crude rose to about $101 per barrel, while Western crude rose Iranian facilities, which reduced the geopolitical risk premium.

Despite this temporary calm, markets remain tense with continuing concerns about the security of supplies through the Strait of Hormuz, through which about 20% of global oil trade passes.

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Oil rises as markets assess supply risks

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