US oil prices have surged beyond $103 per barrel, marking a $6 increase in a single day and a 20% rise throughout the month. This represents the first time since May 20th that prices have reached such levels, according to the Kobeissi Letter. The increase is attributed to potential supply constraints and geopolitical tensions influencing the oil market. Market participants are closely monitoring the potential for crude oil to reach new all-time highs in the coming months.
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