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Hormuz Tensions Spike Oil Prices | Charleston News
Oil prices are surging again, driven by renewed tensions in the Strait of Hormuz—Brent crude nears $80, WTI over $74. Higher fuel costs ripple through shipping, trucking, and aviation, impacting everything from groceries to airfare. Iran’s recent attacks on ships and U.S. retaliatory strikes have disrupted vital oil flows, with analysts warning recovery could take months—even with peace. Iran’s push to control the strait and charge tolls clashes with international law, while China’s potential increased buying looms as a major price driver. With the IEA already warning of market tightness…
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