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of <h1>Oil Prices Spike 7% as Israel-Iran Tensions Escalate, Triggering Global Market Volatility and Investor Uncertainty</h1> Oil prices surged 7% and stocks weakened due to concerns about potential escalation between Israel and Iran, impacting global oil markets. Benchmark crude prices jumped, reflecting market uncertainty. Stock indices declined, with technology and travel sectors experiencing notable losses. Investors are monitoring potential economic implications, with oil producers and defense contractors seeing modest gains amid geopolitical tensions.
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