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Oil Prices Surge as Iran War Tightens Supplies

Published 1 day ago
Description

Oil prices soar as Iran-US conflict escalates, with Brent crude nearing $110 and WTI around $96. Traders fret over tighter supplies due to Strait of Hormuz closure. US builds up forces, countries cut fuel taxes, and diplomatic efforts continue amid attacks and potential war extension. UAE joins task force to reopen strait, and insurance program for shipping offers hope.

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