The continuation of the Middle East war is dampening hopes for a return to stability, as President Trump's rhetoric fails to indicate any potential for de-escalation with Iran. This has led to a sharp increase in Brent crude oil prices, now exceeding $109 per barrel, raising fears of prolonged conflict that could severely impact global oil supplies. In the UAE, stock markets are feeling the pressure, with Dubai's main index dropping 0.5% due to declines in major companies like Emaar Properties, while Abu Dhabi's index has seen slight gains in the banking and petrochemical sectors.
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Brent Crude Oil Prices Surge 51% Amid Iran Conflict
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Brent crude oil prices have surged past $109 per barrel amid ongoing Middle East conflict, with President Trump showing no signs of de-escalation with Iran. The situation worsened with an Iranian attack damaging a Kuwaiti power and desalination plant, heightening global supply concerns.
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