Crude oil prices rise 2% on fresh attacks by US and Iran

On Tuesday, oil prices surged nearly two percent amid escalating tensions between the United States and Iran. The situation was further complicated by threats from Yemens Houthis regarding a potential naval blockade targeting Saudi Arabia. Additionally, reports emerged of an unknown projectile hitting a tanker in the sensitive Strait of Hormuz. In light of these events, Iran is now considering mediators proposals for a ceasefire to restore diplomatic relations.

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