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Oil prices are projected to reach their zenith in the coming weeks as the resumption of ship traffic through the Strait of Hormuz is awaited.
Oil prices are expected to peak soon as the Strait of Hormuz remains blocked.
KEY POINTS
- Iran's blockade of the Strait of Hormuz since February 28 has disrupted global shipping routes.
- The U.S. military has extended its control eastward in response to the shipping disruption.
- Venezuela's oil production increased by 25% after legal reforms and new foreign investments.
COMPANIES
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