Oil Prices Boom After Hormuz Strait Blockade Announcement
By Sergio Goschenko
The Trump Administration announced an upcoming blockade of the Hormuz Strait, causing West Texas Intermediate and Brent oil futures to surge past $100 per barrel. This geopolitical move has rattled the oil market and is expected to accelerate rising gas prices in the U.S. and internationally. The announcement targets Iran, with the blockade set for April 13.
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