Energy markets spike amid Strait of Hormuz blockade and US-Iran standoff, driving supply concerns.
Energy markets surged as a blockade of the Strait of Hormuz and an ongoing US-Iran standoff raised supply concerns.
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Iraq denies paying Iran for tanker passage in Strait of Hormuz
Iraq denies paying Iran in exchange for allowing tankers carrying Iraqi oil to pass through Strait of Hormuz.
Crude oil stays below $100 as workarounds offset Strait of Hormuz closure risks.
Workarounds are keeping crude oil below $100 per barrel despite warnings that closing the Strait of Hormuz would cause a global economic catastrophe.
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