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The price of Brent crude oil remained stable near a five-month high. Traders weighed the risk of further attacks by Iran in the Strait of Hormuz and the accelerated growth of crude oil supply through the strait. The price of this global benchmark crude oil is above $109 per barrel, close to the highest level since May; the price of the most actively traded WTI crude oil futures contract is around $98 per barrel. First Vice President Mohammed Reza Arif said on Monday that Iran “has no choice” and can only maintain national security by controlling the Strait of Hormuz, Iran's state news agency, the Iraqi News Agency. Despite the recent resurgence of conflict over this waterway, Gulf crude oil exports have continued to accelerate. US Secretary of Energy Chris Wright told Fox News that crude oil flow has returned to about 80% of pre-war levels, but shipments of refined oil products are still limited.

Zhitongcaijing·10/20/2026 00:49:02
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The price of Brent crude oil remained stable near a five-month high. Traders weighed the risk of further attacks by Iran in the Strait of Hormuz and the accelerated growth of crude oil supply through the strait. The price of this global benchmark crude oil is above $109 per barrel, close to the highest level since May; the price of the most actively traded WTI crude oil futures contract is around $98 per barrel. First Vice President Mohammed Reza Arif said on Monday that Iran “has no choice” and can only maintain national security by controlling the Strait of Hormuz, Iran's state news agency, the Iraqi News Agency. Despite the recent resurgence of conflict over this waterway, Gulf crude oil exports have continued to accelerate. US Secretary of Energy Chris Wright told Fox News that crude oil flow has returned to about 80% of pre-war levels, but shipments of refined oil products are still limited.