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Market Impact: 0.72
Some physical oil cargoes top $130 a barrel, nearing April's record, on Saudi disruptions
Source: reuters.com
Energy Markets & PricesGeopolitics & WarCommodities & Raw MaterialsTrade Policy & Supply Chain
Some physical oil cargo prices in Europe surged above $130 per barrel on Tuesday, nearing the record highs reached in April. Buyers are scrambling to replace Middle Eastern supplies disrupted by escalating regional conflict, raising the risk of broader energy-market shortages, inflationary pressure, and market-wide risk aversion.
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