CNBC·4 min read·medium
Oil prices rise as U.S. and Iran fight for control of Strait of Hormuz
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Spencer Kimball, Sam Meredith
✦AI Summary
Oil prices rose following military strikes between the U.S. and Iran near the Strait of Hormuz, a critical global energy transit route. While Iran claimed to have closed the strait, the U.S. military maintains that traffic remains open.
Oil prices were higher on Monday morning after the U.S. and Iran traded strikes as they contest control of the Strait of Hormuz, one of the most important trade routes for global energy supplies.
businessworldeconomy
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