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NY Oil Atop USD100 for First Time Since War; Iran Approves Transit Fee for Hormuz Strait, Bars US/ Israeli Vessels
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The Supreme National Security Council (SNSC) of Iran approved a measure to impose fees on vessels passing through the Strait of Hormuz and to ban US and Israeli vessels from the strait, Iran's semi-official Fars News Agency cited a committee member as saying, Bloomberg reported on Monday. US crude oil prices have surpassed USD100 per barrel for the first time since the war. New York oil futures for May delivery jumped up 3.6% to USD103.2, marking the highest level since July 2022. Brent oil futures for May delivery hiked by 0.7% to USD113.4. Once the bill becomes law, it will uphold Iran's sovereignty over this strategic waterway and prohibit entry to any country imposing unilateral sanctions on Iran. Fars News Agency reported that Oman will participate in establishing the legal framework. AASTOCKS Financial News Website: www.aastocks.com |
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