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Oil prices rose to their highest levels since June 11, with Brent crude futures reaching $93.85 per barrel and West Texas Intermediate at $87.27 per barrel. The increases followed reports of US strikes on Iranian-linked targets and Kuwaiti air defenses intercepting drones, alongside concerns over potential disruptions to shipping in the Strait of Hormuz and Bab el-Mandeb.
Houthi threats to target vessels and impose restrictions on Saudi exports were cited by market analysts as additional factors.
Location: Strait of Hormuz