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Brent oil rebound underpinned by Hormuz mine strikes – Commerzbank
Oil’s rebound is being driven in large part by escalating tensions in the Strait of Hormuz, according to Commerzbank Research. Reported mine strikes on tankers and disruptions to LNG flows are central to the tensions.
Brent Supported by Hormuz Conflict
"Tensions in the Strait of Hormuz escalated overnight."
"Iran’s IRGC Navy claimed two additional oil tankers struck mines while attempting to transit the waterway, with both vessels reportedly on fire."
"Brent crude rose 1.2% to USD92.63, as the latest Hormuz mine incidents provided a floor to prices despite the broader November slide of approximately 17%."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Learn more.)
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1Silver price today: FXStreet data shows a decline in silver2Brent oil rebound underpinned by Hormuz mine strikes – Commerzbank3CEE FX: Firmer Dollar and rebounding energy add pressure – ING4US Dollar: Higher levels underpinned by Fed repricing – MUFG5Euro stays higher against Canadian Dollar despite doubts over ECB rate hikes and firmer oil prices6US labour market: UBS monitors claims and wages76% CPI threshold: India’s RBI expected to raise rates if breached – Commerzbank8UK GDP: Growth Holds Firm – UBS9Around 0.8315: USD/CHF Price Forecast as Bears Test Support at Previous Highs
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