Oil breaks the June high ...Middle East

Brent is now up $2.10 to $78.80 and at the highest since January. it's risen about $13 since the first signs of hostilities.

There appears to be a squeeze ongoing in the diesel market as well. In the past week crude is up $9 while diesel is up $21 and trading above the peaks from January and last June.

This article was written by Adam Button at www.forexlive.com.

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