US crude futures rose more than 12% on Friday but remained below Brent prices, as buyers sought available supplies while Middle Eastern shipments became restricted following the effective closure of the Strait of Hormuz amid the widening war between the United States and Israel on one side and Iran ...
US President Donald Trump is preparing to use the US Navy to escort oil tankers through the Strait of Hormuz amid the intensifying war against Iran. However, ensuring safe passage for the large volume of shipping that normally moves through the waterway will be a major challenge.
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