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Business · 8 June 2026

Oil prices jump as Red Sea shipping threatened

Oil prices jump as Red Sea shipping threatened

Photo by Mohammad Hadi on Pexels

Oil prices are climbing, making things more expensive, as a vital shipping route in the Red Sea faces new threats. Yemen's Houthi rebels said Monday they'd ban Israeli-linked ships from the Red Sea after Israel attacked Iran. Brent crude oil went up 2.4% to $95.32 a barrel because of the rising tensions.

Reported by Reuters · How we write briefs

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