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Oil prices approach $90 as conflict in the Strait of Hormuz intensifies

Iran
First seen: Aug 31, 2026, 12:33 AM UTCUpdated: Aug 31, 2026, 3:01 AM UTC

New reports say Brent crude futures have risen to nearly $90 per barrel, with oil prices up more than 2% amid intensifying conflict in the Strait of Hormuz.

Sustained disruption or escalation around the Strait of Hormuz could raise global energy costs and threaten a major oil-shipping route.

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