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Hormuz Strait openings may become routine
French company Total Energies stated that opening and closing the Strait of Hormuz intermittently might become the new normal, due to the fluctuating situation in the Middle East, which has become a battleground. Tensions have been reflected in the market, with oil prices rising by about 5%, reaching their highest level in over six weeks, as US crude futures (WTI) surpassed $90 per barrel, amid escalations of attacks by Iran and the Houthis in the region, threatening energy shipments through the strait.
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