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Houthi Claimed Strike Sends Oil Prices Higher Amid Ongoing Strait of Hormuz Talks

Guavy AI Editorial Team
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Oil
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Oil prices rose on Wednesday after Yemen's Iran-backed Houthi militants claimed they had struck a Saudi Arabian tanker in the Red Sea.

The incident reportedly occurred near the coast of Yanbu, a major port for Saudi crude oil exports.

Brent crude, the international benchmark, was up 1% at $80.22 per barrel, while US West Texas Intermediate futures traded 0.46% higher to $76.12.

The Houthi militants' claim of a successful strike came as the US, Iran, and Oman hold talks to stabilize the volatile security situation in the Strait of Hormuz.

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