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Fresh Gulf hostilities send oil higher and stocks lower

Crude prices jumped after Iran resumed attacks against the UAE and vessels trying to transit the Strait of Hormuz on Monday. Brent contracts rose sharply on Monday night but were down slightly at $113.09 per barrel at 03:02 GMT on Tuesday. West Texas Intermediate contracts followed a similar pattern and …

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Iran Update Special Report May 4, 2026

Key Takeaways Iran is attempting to demonstrate its “control” over the Strait of Hormuz in response to US attempts to secure freedom of commercial navigation in the strait. Iran is attempting to disrupt these US efforts and demonstrate its control by attacking commercial vessels, oil infrastructure in the United Arab …

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