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Home›Commodities›Energy›U.S. oil climbs above $83 a barrel on Iran Strait of H…

U.S. oil climbs above $83 a barrel on Iran Strait of Hormuz dispute

U.S. crude rose as much as 3% earlier in the day following President Donald Trump’s demand that Iran pay reparations to the United States.

Reported · Written up by our desk · Energy

U.S. oil prices rose above $83 a barrel as Iran signaled that the Strait of Hormuz will not open until certain conditions are met, according to CNBC Markets.

The move came after President Donald Trump demanded that Iran pay reparations to the United States, a development that helped push U.S. oil higher earlier in the session.

CNBC World reported that U.S. oil had risen by as much as 3% during the day in response to the dispute over access through the strategic waterway.

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Sources

CNBC MarketsU.S. oil rises above $83 a barrel as Iran says Strait of Hormuz won't open until conditions are met
CNBC WorldU.S. oil rises above $83 a barrel as Iran says Strait of Hormuz won't open until conditions are met

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