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Home›Commodities›Energy›Oil prices tick higher as U.S. reinstates Iran port bl…

Oil prices tick higher as U.S. reinstates Iran port blockade

Shipping slowed sharply in the Strait of Hormuz after the U.S. reinstated its blockade on Iranian ports, tightening supply expectations, according to NYT Business.

Reported · Written up by our desk · Energy

The United States reinstated its blockade on Iranian ports in the Strait of Hormuz, and oil prices ticked higher as shipping slowed in the critical waterway.

NYT Business said renewed warfare in the region contributed to shipping moving at a crawl, raising concerns about supply disruption in an area central to global energy flows.

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Sources

NYT BusinessOil Prices Tick Higher as U.S. Reinstates Iran Blockade

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