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Oil prices heads for 10% weekly surge as Strait of Hormuz risks mount

BRENT crude surged towards US$96 a barrel on Friday and was on track for a weekly gain of about 9% as renewed US-Iran hostilities heightened fears of disruption to oil shipments through the Strait of…

  • Brent crude prices surge 9% weekly to US$96 per barrel
  • US-Iran tensions threaten Strait of Hormuz oil shipments
  • Only six vessels transited strait Wednesday, below 10-day average

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