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Home›Commodities›Energy›Oil prices rise above $90 a barrel amid U.S.-Iran stal…

Oil prices rise above $90 a barrel amid U.S.-Iran stalemate

The NYT Business says shipping through the Strait of Hormuz has continued to dwindle as the U.S.-Iran standoff hardens.

Reported · Written up by our desk · Energy

Oil prices moved higher, reaching more than $90 a barrel, as uncertainty around the U.S.-Iran standoff persisted.

According to the NYT Business, the stalemate over the Iran war has hardened and commercial shipping in the Strait of Hormuz has continued to thin.

The outlet links the tighter shipping conditions in the Strait of Hormuz to the upward pressure on crude prices.

Latest closeWTI crude $82.30 ▲5.3%

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Sources

NYT BusinessOil Prices Rise to $90 a Barrel Over U.S.-Iran Stalemate

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