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Reported Iran Missile Strikes Hit Hormuz Ships as Oil Rebounds

2026-07-07 14:41:15

Oil prices climbed Tuesday after Iran reportedly fired at least two missiles at commercial ships crossing the Strait of Hormuz. WTI rose 1.50% to $69.575, and Brent gained 1.64% to $73.169. The Strait handles roughly 20% of the world’s oil traffic. Both ships suffered significant damage, though no casualties were reported.

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