Oil prices surge to four-year highs amid Middle East conflict escalation
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Brent crude oil closed trading at its highest level in nearly four years, rising above $112 per barrel as markets reacted to escalating conflict in the Middle East. The benchmark oil price jumped approximately three percent during trading, marking its highest level since 2022. Markets responded to the intensification of warfare and attacks on energy infrastructure in the region, driving concerns about potential supply disruptions from one of the world's key oil-producing areas.