Oil prices top $116 per barrel as Iran prepares for US ground invasion

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NEWS SUMMARY

Oil prices surpassed $116 per barrel on Monday morning due to the ongoing conflict in the Middle East, which is disrupting trade routes. This surge coincides with Iranian officials stating the country is preparing for a potential US ground invasion aimed at seizing Kharg Island and controlling oil supplies.

Full BriefGenerated 0m ago

Oil prices have hit their highest point in nearly 15 days, as the conflict in the Middle East continues to disrupt important trade routes. As the US-Israel war on Iran engulfs the region, Brent crude rose more than 3 percent on Monday morning to top $116 a barrel.

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