Oil Prices Rise as Iran Hardens Hormuz Demands
Crude oil prices began this week with a gain following a statement by Iran setting six demands for a peace deal with the United States and claims from the Houthis that they had struck an Aramco refinery in Jazan. At the time of writing, Brent crude was trading at $84.24 per barrel, with West Texas I
Source: OilPrice.com
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DW NOTE
Iran has been blockading Hormuz for 162 days. 2,000 ships are still stranded. Oil is trading at $78.54, down 31% from recent highs. The word "hardens" suggests fresh escalation, but the market is pricing in relief.