Oil prices jump to the highest level in two weeks amid supply concerns

Oil prices rose by about 3%, hitting their highest levels in two weeks, driven by fears of Supplies due to War and tensions in The Strait of Hormuz, despite reports of a possible easing of US sanctions on Iranian oil during the negotiations.
Brent crude closed at $112.10 a barrel, while US crude recorded $108.66, amid warnings of a decline in global stocks, the continued fragility of the ceasefire, and faltering de-escalation efforts.

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