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US crude jumps 8% to $104.24, Brent up 7% to $102.29 on Iran port blockade news.
Trump is weighing limited strikes alongside a Hormuz blockade after US–Iran talks collapsed. Diplomacy remains possible, but escalation risks keep oil supported and markets on edge over the next move.
Futures trade has opened on Globex, oil surges higher, equities slammed lower Gaps all over markets
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Trump said US fuel prices may stay high into midterms as Washington moves to block Iran-linked shipping. The targeted Hormuz action keeps oil risk elevated, adding pressure on inflation, markets and US politics.
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