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Oil prices jump as US, Iran trade fire in Strait of Hormuz

May 8, 2026

Brent crude rises amid clashes in critical waterway. Published On 8 May 20268 May 2026 Oil prices have jumped after clashes between United States and Iran in the Strait of Hormuz pushed their tenuous ceasefire to the brink. Futures for Brent crude rose as much as 7.5 percent during a volatile trading session on Thursday, before easing as Asia’s markets opened on Friday morning. Recommended Stories list of...

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