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LoginOil Prices Rise as Markets Monitor Geopolitical Developments
Singapore, August 07 (QNA) - Oil prices extended their gains in trading on Friday as markets continued to monitor geopolitical developments in the Middle East, particularly those related to the Strait of Hormuz, through which around one-fifth of global oil and liquefied natural gas supplies transit.
Brent crude futures rose 99 cents, or 1.2 percent, to $83.48 per barrel.
US West Texas Intermediate (WTI) crude futures also gained 85 cents, or 1.1 percent, to $78.84 per barrel.
The gains followed Thursday's session, when both crude benchmarks settled more than $3 higher per barrel. (QNA)
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