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Shipping through Hormuz stays low during escalation
Shipping data shows that the number of ships transiting the Strait of Hormuz remained low over the weekend, despite ongoing escalation in the region, reflecting a state of tension in this vital maritime route. At the same time, Brent crude oil prices rose by 2%, surpassing $91 per barrel, reaching their highest level since June amid rising tensions in the Middle East. Additionally, a vessel was reportedly attacked by an unidentified projectile eight miles northwest of a British naval base, with the crew safely evacuated, amid reports of potential attacks on Saudi and Iranian cities.
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