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Euronews
Euronews
Angela Barnes

Oil prices climb as US-Iran stand-off keeps Strait of Hormuz in limbo

The Persian Gulf waterway was closed again after Iran reversed a decision to reopen the strait and President Donald Trump said a US Navy blockade of Iranian ports remains in effect.

US benchmark crude gained 5.6% to $87.20 a barrel, while Brent crude, the international standard, was up 5.3% at $95.16 a barrel.

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