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【Breaking】U.S. crude oil prices surge over 10%
Rise to $110 per barrel, potentially the highest closing price since June 2022.
The reason: Trump’s prime-time speech hinted at further military escalation against Iran in the next 2-3 weeks, shattering hopes for a recent ceasefire. The Strait of Hormuz, responsible for about 20% of global oil transportation, remains effectively closed.
Geopolitical risk premiums fully return. Buckle up. 🔥🛢️