Winds of war pump oil prices to highest levels in weeks

Oil prices are spiking, with Brent North Sea crude surpassing $95 for the first time in nearly six weeks, as hostilities between the United States and Iran roil energy markets worldwide.

Brent oil jumped 4.4 percent to $95.24 per barrel before falling back below $94, and US benchmark West Texas Intermediate rallied 4.5 percent to $88.16.

Both were the highest levels since June 11.

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