WTI Crude Oil Rises 7.01% to $93.48/Barrel Today; Iran Plans Strait of Hormuz Blockade

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According to statements from Iran, WTI crude oil futures rose 7.01% to $93.48 per barrel today (June 1), with Brent crude climbing 5.78% to $96.39 per barrel. Iran and the Resistance Axis announced plans to completely block the Strait of Hormuz and launch operations in other theaters including the Bab el-Mandeb strait.
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