U.S. Resumes Hormuz Strait Blockade, WTI Crude Surges 9% to $78 on July 13

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According to reports on July 13, the U.S. announced a resumption of its blockade on Iranian vessels in the Strait of Hormuz, triggering a sharp rally in international oil prices. WTI crude oil surged over 9%, reaching $78 per barrel.
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