Oil prices rose on August 31, 2026, following the US military's strike on Iranian rocket launchers in the Strait of Hormuz.
The move marked the first military action in a month and led to a decline in U.S. stocks.
According to Damian J. Troise and Alex Veiga from AP Business Writers, 'Oil prices rose and U.S. stocks fell after American forces struck Iranian rocket launchers on the Strait of Hormuz.'
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