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Oil prices climb on U.S. warning
Oil prices rose significantly after Washington's threat to impose a naval blockade and unprecedented economic isolation on Iran, causing Brent crude to surpass $87 per barrel. This occurred amid shipping disruptions in the Strait of Hormuz following an attack on two Emirati tankers, raising concerns about energy supplies and a slowdown in global oil demand. It is also noted that Iraq is currently negotiating with the United States and Iran to secure passage for its exports through the strait amid ongoing tensions.
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