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The Independent UK
The Independent UK
Business
Maryam Zakir-Hussain and Karl Matchett

How latest rise in oil prices will affect cost of petrol and inflation

As the Iran war continues to escalate, all eyes are on the price of oil as fears mount over a global energy crisis.

Brent prices spiked earlier this week, reaching almost $120 per barrel, and are currently around 40 per cent higher than they were when the first strikes on Iran were launched by Israel and the US at the start of the month.

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