Oil Climbs as Fresh Tanker Strike Highlights Risks Around Hormuz

Oil prices rose following attacks on vessels near the Strait of Hormuz. The liquefied natural gas carrier Al Rekayyat was struck by a projectile near the Omani coast as it exited the waterway, and Axios reported that two vessels sustained damage in the incidents. Brent crude traded near $73 a barrel. The International Chamber of Shipping indicated that transits through Hormuz may decrease following the attacks, though some shipowners continued routing vessels through the area.

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