India, July 22 -- Oil prices traded sharply higher on Wednesday to hit a seven-week high as risks to global supply spread beyond the Middle East to the Black Sea.
Brent crude futures jumped more than 4 percent to hover around $95 a barrel, climbing for a fourth day, after the U.S. military carried out its 11th consecutive night of strikes against Iran and President Donald Trump vowed to bomb Pickaxe Mountain.
The U.S. military said it had targeted military operations centers, maritime assets, aircraft hangars, drone storage facilities and logistic infrastructure.
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