Oil prices have declined amid uncertainty in the Strait of Hormuz following recent U.S.-Iran military exchanges. Although concerns over potential supply disruptions have eased slightly, the risk of renewed conflict remains. The Strait of Hormuz is a critical transit route responsible for a significant portion of global oil supply. Brent crude prices have fluctuated, reflecting the volatile nature of the situation, with the odds of reaching a new all-time high by September 30 currently estimated at 5.3%.
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