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Wall Street Drops 300+ Points as Oil Prices Surge Past $101 Per Barrel

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Wall Street experienced a significant decline, with the Dow Jones falling over 300 points amid rising global oil prices. Crude oil surpassed the $101 per barrel mark, triggering renewed concerns about inflation and escalating fuel costs. Both consumers and businesses are facing increased financial pressure as energy prices climb. Petrol prices have risen approximately 32% compared to the same period last year, squeezing household budgets. The surge in oil prices has heightened fears of broader economic impact driven by sustained inflationary pressures.

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