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Oil Prices Surge Above 107 Dollars on Shipping Risks

Brent crude climbed above 107 dollars a barrel as Middle East shipping disruptions added costs to global trade. Meanwhile, markets braced for a widely expected Federal Reserve interest rate hike this week.

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A satellite view shows a closer view of Perim Island in the Bab el-Mandeb Strait, Yemen, September 13, 2026. Yemen's Iran-aligned Houthis reached the strategic island on September 11, according to four Yemeni government sources. 2026 Planet Labs PBC/Handout via REUTERS

Brent Crude Oil rose 3% to $107.81 a barrel on Monday as Houthi movements near the Bab el-Mandeb Strait disrupted key Middle Eastern shipping lanes. The surge compounds logistical strains as alternative routes around Africa add 22 days to maritime transit times. Global investors face intensifying inflation risks just as central banks weigh pivotal monetary policy decisions.
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