Oil futures rise on continued US-Iran hostilities
AI Summary
Oil prices have started to climb as tensions between the US and Iran persist, marking their fourth day of conflict. Brent crude increased by 0.9% to $72.20 a barrel, while US crude rose 1.3% to $70.09 a barrel, indicating market anxiety over the potential for broader disruptions. This rise is particularly significant because Iran's control of the Strait of Hormuz is seen as a critical factor in global oil supply security, making this situation a major concern for global markets.
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