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Oil prices wobble as shipping disruptions hit crude markets

The latest attacks on three commercial ships in the strait have added to weeklong hostilities, pushing crude back above prewar levels.

Reported · Written up by our desk · Energy

Oil prices have been moving unevenly as a fresh round of attacks disrupts shipping in a key strait, reviving supply chain concerns for crude transport.

According to a NYT Business report, the most recent turmoil was sparked by attacks on three commercial ships from the past several days.

The renewed disruption comes amid a broader week of hostilities, with crude prices slipping and then rebounding to levels above what were seen before the conflict began.

The report noted that the shipping disruptions have continued to weigh on how the market prices near-term crude availability.

Latest closeWTI crude $71.84 ▼2.3%

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