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Oil prices bounced back after suffering its biggest one-day drop of more than 13% since April 2020.
Oil prices rebounded after a 13% drop, driven by ongoing supply fears and Strait of Hormuz disruptions.
KEY POINTS
- The Strait of Hormuz remains closed despite a two-week ceasefire, causing operational and security constraints.
- USO and BNO ETFs rose 0.6% after hours following a nearly 10% drop during normal trading.
- Iran accused the U.S. of breaching the ceasefire, increasing distrust and geopolitical uncertainty.
COMPANIES
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