An oil tanker exploded in the Strait of Hormuz after hitting a naval mine, according to an Iranian news agency linked to the armed forces. This strait is a critical maritime chokepoint for global oil transportation. The incident occurred amid heightened regional tensions and warnings from Iran’s Army about potential U.S. strikes. Market data suggests upward pressure on WTI crude oil prices, with implied odds of 6.5% for the price reaching $100 per barrel in July.
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