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Oil Prices Rise After US Strikes on Iran and Reinstate Sanctions, Affecting Global Markets

Oil Prices Rise After US Strikes on Iran and Reinstate Sanctions, Affecting Global Markets

Oil prices increased by over 3% following fresh US and Iran strikes that tested a fragile ceasefire in the Middle East. The US conducted new military strikes against Iran, resulting in some tankers avoiding the Strait of Hormuz, while others successfully transported oil. Asian stock markets experienced volatility, with significant declines in Japan and South Korea, though Hong Kong's market rose.

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