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Oil rises to its highest level in months after the Iranian attack in Iraq
Economy News _ Baghdad
On Wednesday, oil prices rose to their highest levels in months after Iran attacked American forces in Iraq, which raises fears of an escalating conflict and the disruption of oil supplies.
At 8 am Baghdad time, Brent crude futures rose $ 1.32, or 0.90 percent, to $ 69.17 a barrel, after increasing earlier to $ 70.83, the highest level reached by Brent since September 2019.
West Texas Intermediate contracts rose 1.32% to $ 64.30 a barrel. And earlier, he touched $ 63.44.
Iran announced that it launched a missile attack on the US-led forces in Iraq in the early hours of the day in response to a US strike with a drone plane targeting Qassem Soleimani, commander of the Iranian Revolutionary Guard Corps, whose assassination raised fears of a wider war in the Middle East.
The US military said that Tehran fired more than a dozen ballistic missiles from Iranian soil at at least two Iraqi military bases hosting the US-led coalition forces.
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