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Oil prices rose on Monday following a drone attack by Iran-backed militants that killed three US troops in Jordan. Brent crude traded 0.57% higher at $84.03 per barrel, while US West Texas Intermediate futures rose 0.6% to $78.48 per barrel. The attack, which targeted forces stationed near the Syria border, marked the first American fatalities since Israel’s conflict with Hamas began in early October. US President Joe Biden vowed retaliation against the Iran-backed groups responsible for the attack. The incident occurred shortly after Houthi rebels in Yemen attacked an oil tanker in the Red Sea.

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