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Breaking Posted 3 hours ago

Oil Prices Hit $100 on Iran Strait Crisis Boosting Guyana

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Oil prices surged to $100 amid Iran's threat to close the Strait of Hormuz, disrupting 20% of global petroleum supply. This oil shock matches levels seen during Russia's Ukraine invasion, creating significant supply constraints worldwide. The energy crisis primarily impacts commodity currencies and oil-importing nations. CAD and NOK benefit from higher oil prices while USD faces mixed pressure from inflation concerns versus safe-haven demand.
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