Closure of the Strait of Hormuz pushes up oil prices, Brent crude surges nearly 10%
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⑴ With the closure of the Strait of Hormuz, the stock prices of a certain exchange and Gazprom rose by 5% and 1% respectively. ⑵ Market concerns over the escalation of the conflict intensified, causing Brent crude oil prices to surge nearly 10%. ⑶ Safe-haven demand simultaneously pushed gold prices higher, with the price of gold breaking through the $5,400 per ounce mark.
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