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Global Business News

The Economic Times

Global Business / The Economic Times

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Oil rises on uncertainty over reopening of Hormuz

Oil prices surged on Monday amidst growing uncertainty about the reopening of the vital Strait of Hormuz. Iran indicated that negotiations with Oman were advancing but insisted that U.S. terms must be fulfilled first. Traders are now on high alert, looking for solid evidence before they consider lowering risk premiums on oil futures.

10 Aug 2026 7:22 am