Oil Prices Surge Amid US-Iran Tensions, Fuel Costs in Israel Set to Rise
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Oil prices have surged due to US-Iran military tensions, pushing Brent crude to $100 per barrel. Israeli fuel prices will rise by around 30 agorot next Saturday, also influenced by a stronger US dollar against the shekel.
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- Brent crude oil prices hit $100 per barrel amid US-Iran conflict escalation.
- WTI crude oil trades near $90 per barrel, reaching recent highs.
- Israeli fuel prices expected to increase by about 30 agorot next Saturday.
- Fuel price hike partly driven by the US dollar strengthening against the shekel.
- The shekel currently trades at approximately 3.07 per US dollar.
Oil prices have sharply increased following renewed military tensions between the United States and Iran. As of Thursday, Brent crude oil is trading around 100 dollars per barrel, marking a two-month high, while West Texas Intermediate (WTI) crude is priced near 90 dollars per barrel. Israeli consumers are expected to feel the impact of these rising oil prices as fuel costs at gas stations are projected to increase by approximately 30 agorot or more starting next Saturday at midnight. Another factor contributing to the fuel price hike is the strengthening of the US dollar against the Israeli shekel, which currently trades at about 3.07 shekels per dollar.
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