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The Economic Times

Global Business / The Economic Times

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Oil rises as Middle East supply concerns persist amid shipping attacks

Rising oil prices are driven by persistent supply concerns from the Middle East. This month has seen a surge in attacks on shipping in the Gulf and the Strait of Hormuz, despite the International Energy Agency releasing oil stocks. Recent U.S. inventory reports indicated larger-than-expected declines in crude stockpiles. These trends point to potential volatility in the oil market that could last for the foreseeable future.

8 Oct 2026 7:27 am