Energy

Oil Prices Rise for Fourth Day as Hormuz Traffic Slows

Crude oil prices extended their gains for the fourth day today as fresh tanker-tracking data suggests traffic via the Strait of Hormuz has slowed further amid harder rhetoric from both Iran and the United States, with both sides demonstrating an unwillingness to return to the negotiating table. At t

Source: OilPrice.com

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DW NOTE

The Strait of Hormuz is effectively closed — one ship moved through on August 9 versus 73 per day normally, with 2,000 vessels still stranded. Brent has fallen 23% from its July peak despite four days of gains. Oil rising while the world's most critical chokepoint remains shut is the market pricing in a reopening that hasn't happened.

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Oil Prices Rise for Fourth Day as Hormuz Traffic Slows

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