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The Economic Times
The Economic Times

Oil prices surge 20% in July as US-Iran war heightens Strait of Hormuz tensions

Iran Oil Hormuz United States Donald Trump Saudi Arabia the Black Sea

Oil fell at the end of a volatile last week but remained on track for the biggest monthly gain since March as the United States-Iran war escalated.

Brent traded below $88 a barrel after swinging in a range of about $11 last week, with the global benchmark up by about a fifth in July. US crude gauge West Texas Intermediate was near $82 a barrel.

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