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Commodities

Iran Asserts Control Over Strategic Strait of Hormuz

Guavy AI Editorial Team
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Oil
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Tensions in the Middle East have escalated as Iran has claimed to have struck an oil tanker attempting to transit the Strait of Hormuz. This waterway has been under Tehran's control since the US and Israel launched a war on February 28.

The Strait of Hormuz is a critical passage for international trade, with millions of barrels of oil passing through it every day. Iran's assertion of control over this waterway has significant implications for global energy markets.

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