Brent Hits One-Month High on Iran Blockade Concerns
Brent rose nearly 4% to $115.50 on reports the U.S. will extend its blockade of Iranian ports. The move follows news that the Strait of Hormuz remains closed.
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Brent Crude Oil rose 3.81% to $115.50 on Wednesday midday following reports that the United States will extend its blockade of Iran. The price hit a one-month high as the June contract climbed for an eighth consecutive day. Prolonged Middle East supply disruptions threaten global energy stability as the Strait of Hormuz remains closed to shipping.
