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Oil prices rise after reported US strike on Iran's Qeshm Island

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Oil prices moved modestly higher following a reported US military strike on Qeshm Island. The incident has raised concerns that the conflict could escalate further. Diplomatic channels remain open, with both the US and Iran reportedly open to renewed negotiations despite earlier talks falling through. Global energy supplies remain under pressure, especially given the importance of the Strait of Hormuz. Markets are therefore watching closely for signs of how the situation develops.

Read the full story at Times of India

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