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Market Impact: 0.72
Crude Oil Soars As Gulf War Intensifies, Leaving The Strait Of Hormuz Closed
Source: Nasdaq
Energy Markets & PricesGeopolitics & WarInflationTrade Policy & Supply Chain
Crude oil prices surged Wednesday as continued U.S.-Iran attacks prolonged the Middle East conflict and reduced expectations for a reopening of the Strait of Hormuz. The disruption risk to a critical global oil-shipping route is renewing concerns over sustained energy-price inflation, with potentially broad implications for inflation expectations and risk assets.
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