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World oil prices jumped on Wednesday, with the benchmark international contract Brent North Sea crude surpassing US$95 for the first time in nearly six weeks as the United States and Iran carried out more strikes.
Crude futures went on to give up some of the gains but still rose around three percent.
“The military actions have been renewed at an extraordinary high,” said John Kilduff of Again Capital. “And the rhetoric is as hot as it’s been since the beginning of the war.”
US President Donald Trump threatened to knock out one Iranian…