business
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Oil Prices Rise Above $120 Amid Iran Blockade Concerns
June 13, 2026
Oil prices increased above $120 a barrel Monday, according to the BBC, amid reports concerning the blockade affecting Iran. Market analysts cited geopolitical tensions as a factor in the price surge.
CNN reported that former President Trump views the blockade as a means to bring Iran back to negotiations. Al Jazeera reported that Iranian officials threatened unspecified “practical” actions in response to the continued blockade.
CNBC reported that former President Trump posted a digitally generated image of himself.
The Telegraph reported Monday that the Pentagon is preparing potential military actions to address the situation in the Strait of Hormuz.
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