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Commodities

Hormuz Tensions Send Oil Prices Reeling Amid Global Supply Risks

Guavy AI Editorial Team
Instruments
Oil Natural Gas
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The oil and gas markets are closely watching developments around the Strait of Hormuz, where negotiations to ease shipping tensions offer hope but ongoing attacks and restrictions keep supply risks high.

Crude oil imports to Asia, especially China, have dropped significantly due to these conflicts, tightening global supply.

Technical analysis shows natural gas gaining momentum above $2.73, while WTI and Brent crude oil test resistance levels near $78 and $84 respectively.

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