Oil Prices Rise Over the Weekend as US-Iran Military Exchange Rattles Energy Markets

According to foreign media reports, international crude oil prices rose on Monday as military exchanges between the United States and Iran over the weekend highlighted the fragility of a temporary peace agreement. However, expected continued recovery in shipping through the Strait of Hormuz is limiting oil price gains. According to reports from last Thursday, crude oil volumes transported through the Strait of Hormuz have reached their highest level since late February, when US-backed Israeli military operations against Iran began. Analysts at Mizuho Bank warned that full recovery remains distant, with Bob Yager, managing director of energy futures, noting that complete restoration to pre-war traffic levels is unlikely in the coming weeks.
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