US-Iran Conflict Reignites, International Oil Prices Rise for Third Consecutive Day
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Renewed attacks between the US and Iran have cast doubt on the prospects for a peace agreement to reopen the Strait of Hormuz, pushing international oil prices up for a third straight day. NYMEX West Texas Intermediate crude for July delivery rose 2.4% to settle at $96.02 per barrel, while London Brent crude for August delivery gained 1.9% to close at $97.81 per barrel.