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CNN Money reported that experts do not foresee a major oil price spike even after it surged almost 2% since Iran vowed to shut down the Strait of Hormuz.
CNN Money reported that experts do not foresee a major oil price spike even after it surged almost 2% since Iran vowed to shut down the Strait of Hormuz.
As quoted in the market news:
On Wednesday the noose around Iran’s economy tightened further. Reports said Europe may be close to enacting an outright oil embargo on Iran. About 15% of Iran’s oil exports go to Europe.