RNZ·4 min read·medium
Oil climbs 5% as Iran, US both demand compensation and Hormuz hopes fade
R
RNZ | Te Reo Irirangi o Aotearoa
✦AI Summary
Oil prices rose by 5% as tensions between the US and Iran escalated, dimming hopes for the reopening of the Strait of Hormuz. Both nations have issued demands for compensation and sanctions relief, complicating global energy supply chains.
Oil prices have settled 5 percent higher after Iran and the United States traded demands for compensation, dimming prospects for a deal to reopen the Strait of Hormuz.
economyworldbusiness
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