Oil futures were climbing Monday as the ongoing U.S.-Iran standoff and the blockade of the Strait of Hormuz fueled concerns that Iran’s crude storage is nearing capacity, potentially forcing output cuts from one of the world’s largest oil producers.
Oil futures were climbing Monday as the ongoing U.S.-Iran standoff and the blockade of the Strait of Hormuz fueled concerns that Iran’s crude storage is nearing capacity, potentially forcing output cuts from one of the world’s largest oil producers.
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