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Oil resumes rally as U.S.-Iran fire exchange rattles fragile Hormuz ceasefire

Posted on May 8, 2026
By CNBC
0 Views
1 min read

Oil resumes rally as U.S.-Iran fire exchange rattles fragile Hormuz ceasefire

Oil prices jumped on Friday after the U.S. and Iran exchanged fire in the Strait of Hormuz, raising fresh fears that the fragile ceasefire between the two countries is rapidly unraveling.