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Oil prices rise amid USIran tensions
Oil prices experienced a slight increase after the United States threatened to continue its unlimited naval blockade of Iran, raising concerns about global oil supplies. Brent crude futures rose by 0.1% to $87.16 per barrel, while West Texas Intermediate (WTI) crude increased by 0.05% to $81.29, despite a decline in the previous session following expectations of weak global demand. These US threats come amid Iran's ongoing restrictions on navigation in the Strait of Hormuz, through which 20% of the world's oil previously passed before the recent escalation. Additionally, two Emirati tankers were attacked in the strait, according to the UAE news agency. It is expected that the United States will impose unprecedented economic measures in the coming week amid stalled ceasefire talks with Iran and increasing pressure on Tehran.
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