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    Oil Prices Rise Over 4% Amid Iran Tensions

    1 week ago

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    Oil prices increased by more than 4% following US President Donald Trump's announcement of a reinstated naval blockade on Iran. This move raises concerns over energy shipments through the Strait of Hormuz, a critical route for global oil supply. Brent crude futures rose to $79.22, while US West Texas Intermediate reached $74.45 per barrel.
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