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Brent Crude Holds Above $90 Amid Middle East Tensions and US Iran Sanctions

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Brent crude oil prices remained above $90 per barrel as geopolitical tensions in the Middle East intensified. Fresh US sanctions targeting Iran's financial resources prompted investors to reassess risks to regional oil supplies. Concerns were further heightened after an oil tanker sustained damage off the coast of Oman. Analysts noted that economic pressures helped temper fears of a major supply disruption from the Middle East. The developments coincided with US crude oil reserves falling to their lowest level since 1982.

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