Oil price today: Crude touches $113 per barrel after UAE oil storage facility hit

Oil prices surged Tuesday as Iranian-linked attacks and military clashes heightened fears of disruption in the Strait of Hormuz. Brent crude rose 6% to $114.44 a barrel, while WTI settled 4% higher at $106.42. The Fujairah Oil Industry Zone was struck by a drone, with Emirati officials blaming Iran.

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