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Crude oil, often referred to as “black gold,” plays a critical role in the global economy, influencing industries like transportation, logistics, manufacturing, and energy. Rising crude prices boost profits for oil companies while squeezing margins in fuel-reliant sectors such as airlines and logistics. Additionally, industries reliant on crude for production, such as plastics and cosmetics, face rising costs. Higher crude prices also drive interest in renewable energy solutions, marking a shift in the global energy landscape. Monitoring oil prices is essential for businesses and investors.

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