Crude Oil Holds Above $95 as US-Iran Tensions Disrupt Supply Routes
Oil prices slipped slightly on Thursday after a volatile trading session in global markets. Investors are keeping a close watch on how recent US-Iran military strikes may affect oil supply chains. Traffic through the Strait of Hormuz, a critical oil transit route, is currently running below normal levels. The reduced activity has raised concerns about global oil availability and the potential for further price increases. Nations are now looking at alternative energy sources as existing reserves continue to deplete.
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