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Oil prices expected to fluctuate further amid U.S.-Iranian escalation
Oil markets are expected to continue experiencing volatility after an attack targeted a commercial vessel in the Strait of Hormuz, along with heightened U.S. escalation against Iran. These events have led to a slowdown in maritime traffic through the strait and a drop in oil prices to around $76 per barrel, representing an increase of approximately 5% compared to pre-war levels. Additionally, tensions are causing potential disruptions in energy and financial markets, amid discussions about maritime routes and an increasing risk of naval mines in the strait.
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