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Brent rises on tanker shortage and Strait of Hormuz closure
Brent futures have widened to their
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Brent futures have widened to their largest premium to Middle Eastern Dubai since 2022 after a sharp spike in energy prices following US and Israeli strikes on Iran, Bloomberg reports. The price gap reflects disrupted trade flows and growing concerns over supplies from the region. Traders say the spread (Brent–Dubai) exceeded $6 per barrel on Tuesday, after having traded below $2 for most of last week before the conflict began. Buying and logistics routes have been hampered: shipping through the Strait
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