CNBC·4 min read·medium
Oil prices move higher as Iran threatens response to latest U.S. strikes
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Spencer Kimball, Joseph Wilkins
✦AI Summary
Oil prices are fluctuating as geopolitical tensions rise between the U.S. and Iran following retaliatory strikes in the Middle East. The market is reacting to threats of further escalation and the formation of a Saudi-led maritime coalition to protect trade routes.
Oil prices fell Thursday after Saudi Arabia proposed a naval coalition to protect key trade routes as ships come under attack from Iran and its allies in the Red Sea and Strait of Hormuz.
economyworldbusiness
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