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Oil prices rise more than 2% as Putin announces partial military mobilization

Adel 21 September, 2022 1:37 pm Commodities, Forex Market, Market Update

Oil prices jumped more than 2 percent on Wednesday after Russian President Vladimir Putin announced a partial military mobilization, escalating the war in Ukraine and raising fears of further oil and gas shortages.

Brent crude futures rose $2.28, or 2.5 percent, to $92.90 a barrel by 0707 GMT, after falling $1.38 on Tuesday.

US West Texas Intermediate crude futures rose $2.22, or 2.6 percent, to $86.16 a barrel.

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