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Deadlock over the Strait of Hormuz continues to push oil prices higher

IranOman
First seen: Aug 22, 2026, 12:47 AM UTCUpdated: Aug 22, 2026, 12:47 AM UTC

A reported stalemate concerning the Strait of Hormuz is contributing to rising oil prices.

Higher oil prices can raise fuel costs and add inflationary pressure internationally.

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