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Oil prices fall as US strikes on Iran and Hormuz shipping halt fuel market chaos
๐Ÿ“ˆ Business

Oil prices fall as US strikes on Iran and Hormuz shipping halt fuel market chaos

Oil prices fell on Thursday after an initial rise, driven by confusion over reports of new US strikes on Iran. Shipping traffic through the Strait of Hormuz, a critical route for Middle Eastern energy supplies, has been almost entirely halted. The combination of geopolitical uncertainty and supply risk is causing significant volatility in commodity markets.

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