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Oil prices surge to a one-month high amid renewed tensions in the Strait of Hormuz
Oil prices rose by 2% to reach a four-week high, due to escalating tensions in the Strait of Hormuz and increased risks to energy supplies. The U.S. reimposed a naval blockade on Iran, and attacks on two tankers in Omani waters resulted in the death of an Indian sailor and injuries to eight others, heightening concerns about the stability of oil exports in the region.
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