Oil prices increase after Iran seizes ships in Strait of Hormuz
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Iran fired on three ships in the Strait of Hormuz and seized two of them on Wednesday, intensifying its assault on shipping in the key waterway. The attacks came a day after US President Donald Trump extended a ceasefire while maintaining an American blockade of Iranian ports.The standoff between the US and Iran has effectively choked off nearly all exports through the strait, through which 20 per cent of the world's traded oil passes in peacetime, with no end in sight.READ MORE: Monster i
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