Oil climbs on US-Iran tensions

Oil prices rose today following renewed clashes between the United States and Iran, highlighting the fragility of their peace agreement and raising concerns over potential disruptions to energy supplies through the Strait of Hormuz. Brent crude increased to $72.57 per barrel, up 0.8%, while West Texas Intermediate climbed to $70.11 per barrel, up 1.3%. This occurred amidst military tensions and a slowdown in oil shipments, despite an American official announcing an agreement to cease hostilities between the two countries.

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