Economic TimesLean R·
Oil nears $80 with Hormuz back in focus
Oil prices surged more than 4% on Monday after Iran widened its military strikes to Gulf states following fresh attacks by the United States, raising concerns over the security of energy shipments through the Strait of Hormuz.Crude oil price on July 13Brent crude futures advanced $3.34, or 4.38%, to $79.5 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $3.07, or 4.30%, to $74.20 a barrel. The latest rally comes after both benchmarks climbed 5.5% last week, with WTI once again tr…
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