Crude oil prices edged higher on Monday as the reopening of the Strait of Hormuz remains delayed amid reports that Iran is taking a hardline stance. The blockage risk keeps supply routes in focus and supports oil prices, with geopolitical uncertainty likely to sustain near-term volatility. This is a market-moving energy and supply-chain headline given the Strait of Hormuz’s importance to global crude flows.
Crude oil prices edged higher on Monday as the reopening of the Strait of Hormuz remains delayed amid reports that Iran is taking a hardline stance. The blockage risk keeps supply routes in focus and supports oil prices, with geopolitical uncertainty likely to sustain near-term volatility. This is a market-moving energy and supply-chain headline given the Strait of Hormuz’s importance to global crude flows.
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