Brent oil tops $126 amid rising US-Iran tensions
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Brent crude oil price exceeded $126

Oil prices hit a military high on Thursday following a report that the U.S. military will brief President Donald Trump on possible action against Iran. Prices rose after the Wall Street Journal quoted U.S. officials as saying that Donald Trump had instructed his aides to prepare for a prolonged blockade of Iran.
Irina Covalenco Reading time: 1 minute
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global oil market is feverish

The Axios publication, citing two sources, reported that the U.S. Central Command is obliged to present Trump with plans for possible military operations against Iran.

Earlier it was reported that Trump rejected Tehran’s proposal to resume freedom of navigation in the Strait of Hormuz, stressing that the naval blockade will remain in place until a broader agreement on the nuclear program is reached.

Brent crude futures for delivery in June rose. The price of WTI crude oil increased by 6.84%, reaching $126.10 per barrel. The price of U.S. West Texas Intermediate crude also rose, adding 3.14% and reaching the level of 110.24 dollars per barrel.


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