Oil prices rise as Iran conflict widens
SRI
TOKYO, March 5 : Oil prices rose on Thursday amid growing concern over the prolonged closure of the Strait of Hormuz, as the U.S.-Iran war chokes off vital Middle East oil and gas flows while production facilities limit output. Brent crude was trading up $1.67, or 2.05 per cent, at $83.07 per barrel by 0141 GMT. U.S. West Texas Intermediate crude rose $1.94, or 2.60 per cent, to $76.60. The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka and U.S.
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