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The Economic Times

Global Business / The Economic Times

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Why is oil at $100 if Trump is winning the battle in Hormuz?

The US appears to have gained the upper hand in the battle over the Strait of Hormuz, with allied crude exports recovering to about 80% of prewar levels while Irans own exports have fallen to zero. But oil prices remain elevated because traders fear Tehran could escalate by attacking ports, pipelines or oilfields, while diesel and other refined products remain in short supply.

30 Sep 2026 11:35 am