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Oil Prices Surge Amid Hormuz Tensions | Dayton News
Oil prices surge as tensions in the Strait of Hormuz escalate, with Brent crude nearing $80 and WTI over $74—sparking higher costs for shipping and global goods. Iran’s attacks on tankers and U.S. retaliatory strikes are disrupting oil flows, threatening inflation and economic stability. Analysts warn normalization will take time, while the IEA stresses lasting peace is vital to avoid a “red zone” in oil markets. Iran’s push to control the strait and charge fees clashes with international law, and China’s potential return to heavy buying could further spike prices—making this a high-stakes…
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