Oil prices rise to highest level in nearly a month amid Hormuz impasse

🌐 Hellenic Shipping News (IR) —

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Oil prices rose to their highest levels in nearly a month due to escalating tensions at the Strait of Hormuz, following threats of new U.S. economic sanctions against Iran. Brent crude futures increased more than 2%, reflecting market concerns over supply disruptions.

Oil prices climbed on Thursday after U.S. President Donald Trump threatened to hit Iran with new economic sanctions, as the two countries remained deadlocked over the Strait of Hormuz. Benchmark Brent oil futures rose 2.1% to $93.57 a barrel by 04:43 ET (08:43 GMT), while U.S. West Texas Intermediate crude futures advanced 2.0% to $87.56 ...

World Security Politics Markets Commodities Energy Shipping oil prices Brent crude U.S. sanctions Iran Hormuz strait energy market

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