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Hormuz Standoff Escalates Oil Prices | Business and Finance News
Published 5 days, 22 hours ago
Description
Tensions in the Strait of Hormuz are escalating as ships sit idle, U.S.-Iran negotiations collapse, and both sides strike back—U.S. attacks on Iran followed by Iranian drones and missiles targeting Gulf allies. Oil prices surge past $96 a barrel as sanctions, stalled talks, and unpredictable military moves keep markets on edge. Trump claims U.S. dominance, while experts warn prices will remain volatile for months.
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