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Market Impact: 0.6
Oil extends gains after US and Iran strike ships
Source: reuters.com
Geopolitics & WarEnergy Markets & PricesTrade Policy & Supply Chain
Oil prices extended gains as U.S.-Iran tit-for-tat strikes on vessels in/near the Strait of Hormuz raised fears of a prolonged Middle East supply disruption. The risk of longer shipping disruption is likely to keep upward pressure on crude relative to baseline expectations, supporting near-term energy pricing.
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