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Oil rises above $106 per barrel as US, Iran deadlocked in Strait of Hormuz

April 24, 2026

Jump in prices comes as Donald Trump says vessels will need permission of US Navy to transit key waterway. Published On 24 Apr 202624 Apr 2026 Oil prices have jumped on heightened tensions between the United States and Iran in the Strait of Hormuz following Washington and Tehran’s tit-for-tat captures of commercial vessels. Brent crude, the international benchmark, topped $106 per barrel early on Friday morning as Washington...

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