International Brent crude oil prices have surged past $97 per barrel due to escalating tensions in the Middle East following Israeli strikes on Iranian petrochemical and defense facilities. This geopolitical instability has raised concerns about oil supply disruptions through the Strait of Hormuz, causing a $4.42 increase in Brent prices. Investors fear continued volatility in the global crude market, which could potentially lead to a hike in petrol and diesel prices in India.
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