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Oil prices rose Thursday after the U.S. launched new strikes against Iran, dimming hopes for a Strait of Hormuz reopening. Shipowners are growing more cautious on transit and insurers are reviewing vessel coverage, adding upward pressure on crude prices.
Brent crude futures hit $115 a barrel after eight straight sessions of gains, the highest level since June 2022. Mounting fears over supply through the Strait of Hormuz are driving the rally, with major oil-importing economies like India facing rising fuel cost pressure.
Tag
Oil prices rose Thursday after the U.S. launched new strikes against Iran, dimming hopes for a Strait of Hormuz reopening. Shipowners are growing more cautious on transit and insurers are reviewing vessel coverage, adding upward pressure on crude prices.
1mo ago · 3 min · Global Affairs
Brent crude futures hit $115 a barrel after eight straight sessions of gains, the highest level since June 2022. Mounting fears over supply through the Strait of Hormuz are driving the rally, with major oil-importing economies like India facing rising fuel cost pressure.
4mo ago · 1 min · Markets
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