Brent Crude Surges 5.2% to Six-Week High on Thursday Amid Iran Tensions

According to Jin10 Futures, Brent crude oil surged 5.2% to its highest level since June 19 on Thursday morning (July 9), driven by U.S. President Trump's threats of fresh strikes on Iran, which sparked concerns over potential disruptions to Strait of Hormuz shipping.

Chicago soybean oil futures rallied to their highest level since June 12, supporting Malaysian crude palm oil futures' expected opening gain. The electronic trading session for Brent crude continued to climb throughout the morning.

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