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Oil prices settle near 4-week high as Middle East crisis escalates

The Globe and Mail ·
Oil prices settle near 4-week high as Middle East crisis escalates

Crude oil prices rose on Wednesday and settled at the highest ​in nearly four weeks, as investors worried about ‌escalating tensions in the Middle East after the United Arab Emirates decided to suspend all financial and economic transactions with Iran, and as ship traffic through the Strait of Hormuz remained ⁠slow.

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