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Event Brief

Oil prices surge as Strait of Hormuz remains closed

Oil prices rise sharply due to the ongoing closure of the Strait of Hormuz, impacting global markets.
WHO: Market analysts
WHAT: Oil prices soar
WHEN: Mar 24, 2026 at 1:28 AM ET
WHERE: Strait of Hormuz
WHY: The Strait of Hormuz is still effectively closed.
Sources (1): ABC Australia

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