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Tag Archives: strait of hormuz

Oil Rises 2% To Over $101 A Barrel Over Tensions With Iran

Oil prices climbed 2% to over $101 a barrel on growing U.S. consumer confidence and tension in the Middle East. This comes as Iran has promised to close the Strait of Hormuz and block oil exports if the West imposes sanctions on its oil shipments over it’s nuclear program. The Strait of Hormuz is a passage connecting the Gulf of ...

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