Brent dips on Hormuz, Iran deal optimism
Energy markets swing on Iran deal hopes as Hormuz disruption drives global costs higher.
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Few ships trickled through the Strait of Hormuz this week despite signals from President Donald Trump that progress had been made on talks with Iran to end the war. The strait’s closure continues to fuel the global energy crisis and has added more than $35 billion to the European Union’s fossil fuel import bill since the war began on Feb. 28.
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