Inquirer
NEW YORK, United States — Oil prices rose in early trading Sunday as a standoff between Iran and the U.S. prevented tankers from using the Strait of Hormuz, the Persian Gulf waterway that is crucial to global energy supplies. The price of US crude oil increased 6.4 percent to $87.88 per barrel after trading resumed on the Chicago Mercantile Exchange. The price of Brent crude, the international standard, climbed 6.5 percent to $96.25 per barrel. READ: iran-victorious-in-war-with-us-speaker-says The market reaction followed more than two days of growing hopes and dashed expectations involving the strait. Iran, which effectively controls the passage, said Friday that it would […]... Keep on reading: Oil prices rise anew after a US-Iran standoff in the Strait of Hormuz strands tankers
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