Oil prices have risen by $3 following reports that Iran is considering banning US and Israeli ships from navigating the strategic Strait of Hormuz. This strait is a critical route for global oil and gas transport. This potential decision escalates existing tensions between Iran, the United States, and Israel regarding this vital maritime passage. Market data shows that the likelihood of the US imposing Hormuz fees has decreased to 1.8% for August and 8.5% for December.
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