Oil rises on signs of heightened tensions in Strait of Hormuz
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Summary
Brent spiked more than 5% to trade above $114 a barrel, before paring some of the gain as prices fluctuated sharply
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Lara Seligman
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May 4, 2026
@laraseligman
Military tensions flared in the Strait of Hormuz on Monday, as several vessels were struck amid Iranian threats, while the U.S. sent in destroyers and fought off further attacks. https://t.co/gg7Eju0c37