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Hormuz heightens oil market volatility
The article addresses the situation in the Strait of Hormuz, where a renewed threat has arisen in the energy markets due to conflicting reports—Iran affirming its closure of the strait, and the United States confirming that navigation there continues. An Iranian source indicated that the strait will remain closed as long as the ceasefire in Lebanon is not respected, whereas American officials denied its closure, with commercial ships and oil tankers still passing through. These developments led to a drop in oil prices to around $80 per barrel, with expectations of an increase again if disturbances persist.
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