Oil jumps as Trump claims new US blockade on Iran in Strait of Hormuz - Axios

Source: Axios

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DW NOTE

Trump announces a blockade days after the Strait reopened. Oil jumped 12-13% last week on supply cuts that already took 3.7 million barrels per day off the market. If the US actually closes Hormuz again—20% of global oil supply—crude won't stop at $77. It will test the yearly highs near $110, and central banks holding rates at 5% while inflation sits at 4.3% will have an excuse to do nothing about it.

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