Tension in Red Sea, price of crude oil increased in global market

Washington: Due to tension in the Red Sea, the price of crude oil increased in the global market.

Crude oil prices have recorded an increase of about 1 percent due to ongoing tensions in the Red Sea.

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Brent crude futures were up 71 cents, or 0.89%, at $80.10 a barrel, while U.S. West Texas Intermediate crude futures were up 81 cents, or 1.1%, at $74.70 a barrel.