Global oil prices rose above $110 per barrel on Monday, reaching their highest level in nearly four years. Brent crude, the international benchmark for crude oil, climbed temporarily to as high as $120 before prices fell back below $110 following reports of possible releases of strategic oil reserves by G7 nations. Oil prices had last exceeded the $100 mark during the COVID-19 pandemic in 2022, shortly after Russia’s attack on Ukraine. Military operations in the Middle East drive prices higher

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