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The Times of India

Business

Bloomberg

Oil jumps as Iran steps up rhetoric with call for Israel embargo

Israel Oil Iran Joe Biden Gaza Muslim Middle East the Middle East United States Hamas

Oil leaped higher after Iran called for an embargo against Israel by Muslim countries, following a deadly explosion at a Gaza hospital that raised the risk of wider hostilities in the Middle East.

Brent futures rose as much as 3.5% to trade near $93 a barrel, before paring some of those gains. Iran’s foreign minister called for a full and immediate boycott of Israel by Muslim countries, including an oil embargo on the country.

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