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Oil settles up on renewed US-Iran hostilities and threat of Red Sea closure
Oil prices climbed significantly on Friday, reaching their highest point in over a month. Escalating hostilities between the United States and Iran intensified attacks across the Gulf region. Shipping routes face potential closure, impacting global oil flows and prices. Saudi Arabia has redirected significant crude exports to avoid the Strait of Hormuz. Ukraine also reported striking a Russian oil refinery in its conflict.
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channelnewsasia.com
Oil rises on renewed US-Iran hostilities and threat of Red Sea closure
LONDON, July 17 : Oil prices rose by about 2 per cent on Friday after the U.S. and Iran stepped up attacks across the Gulf, with shipping threatened by a potential Red Sea closure…
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Oil rises on intensifying US-Iran hostilities and threat of Red Sea closure
PERTH, July 17 : Oil prices inched higher on Friday after the U.S. and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of…
