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Brent futures sharply higher on Mideast tensions
Crude oil futures up 2.70 usd at 79.81 usd/barrel (Il Sole 24 Ore Radiocor) - Milan , 26 Aug - Brent futures were sharply higher, amid concerns about the Gaza conflict developing into a wider regional conflict, as Hezbollah over the weekend fired rockets and drones into Israel and Israel's military said it had struck Lebanon with about 100 jets.
Indications from Federal Reserve chairman Jerome Powell Friday that the US central bank will shortly cut rates also helped to support the global economic outlook.
At 0905 GMT, crude oil futures were up 2.70 dollars, or 3.50%, at 79.81 dollars a barrel.
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(RADIOCOR) 26-08-24 11:16:15 (0176) 5 NNNN