Oil prices on rise due to Middle East War

Oil prices continue to climb as the conflict in the Middle East intensifies.

This week, Brent crude oil surpassed the 90-dollar mark per barrel, hitting around 96 dollars on Thursday.

Hostilities resumed earlier this week for the first time since July, with the US striking Iran, and Tehran responding with attacks on US bases.

Analysts say the hike in oil prices might tempt the Reserve Bank to increase interest rates at the next meeting later this month.


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