Oil prices reach one-month high amid US-Iran tensions in Strait of Hormuz

Oil prices have surged to a month-high due to escalating tensions between the United States and Iran, with Brent crude rising 2 percent to $84.91 a barrel. The US Central Command has conducted strikes against Iran, which retaliated by targeting oil supertankers and US military assets. Traffic through the Strait of Hormuz has dropped significantly amid fears of violence, prompting concerns about supply shortages, and analysts predict prices could approach $100 if tensions persist.

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