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Home›Commodities›Energy›Oil rises on fears of supply disruption at Strait of H…

Oil rises on fears of supply disruption at Strait of Hormuz

CNBC reports oil moved higher after Iran’s draft plan suggested the U.S. and Israel would be barred from the Strait of Hormuz.

Reported · Written up by our desk · Energy

Oil prices rose after news of Iran’s restrictive draft plan for the Strait of Hormuz raised fresh concerns about potential supply disruptions. According to CNBC Markets and CNBC World, the draft plan would bar the U.S. and Israel from the strategic waterway, a development that renewed the market focus on geopolitical risk in key oil shipping routes.

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Sources

CNBC MarketsOil rises as Iran's draft plan sees U.S. and Israel banned from Strait of Hormuz
CNBC WorldOil rises as Iran's draft plan sees U.S. and Israel banned from Strait of Hormuz

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