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Oil prices rise amid escalating tensions in the Strait of Hormuz and renewed supply concerns
Oil prices rose for the fourth consecutive day as the United States launched a new round of strikes on Iran in an attempt to secure shipping through the Strait of Hormuz. Brent crude oil climbed to approximately $85 per barrel, after gaining 12% over three sessions, amid escalating regional tensions and renewed concerns over energy supplies. Washington carried out airstrikes targeting Iranian sites, while Iran vowed to keep the strait closed until American attacks cease.
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