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The Independent UK

Bryony Gooch

Oil hits $100 for first time since July as chaos continues in Strait of Hormuz

Oil Middle East the Middle East

The price of oil crossed the $100 a barrel mark for the first time since July as continued chaos in the Middle East spooked the market.

As the market opened on Wednesday, the price for Brent Crude - the benchmark for oil across the world - hit $100.19 at around 8.15am. It later dropped slightly to $99 shortly after.

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