Oil reaches highest level in a month amid escalating tensions in the Strait of Hormuz
Tensions are escalating in Iran, as Jordan intercepted four rockets launched by Iran, and the UAE attacked two tankers in the Strait of Hormuz, leading to a deterioration of military and political situations in the region. Oil markets also experienced a rise during the month amid the increasing tensions in the vital strait, while the Trump administration is considering restarting the war with Iran.
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