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Oil extends gains and stocks mostly down on fresh Hormuz worries
Oil prices extended gains and most stocks fell further on Friday amid fading optimism over a deal to reopen the Strait of Hormuz, as reports said Iran was planning to block US and Israeli ships from the waterway as part of a deal with Oman.Crude prices had begun edging up on Wednesday and rallied as much as four percent on Thursday as the Fars news agency said Iran would look to prevent US and Israeli vessels from using the strait in any deal with Oman.
Oil prices extended gains and most stocks fell further on Friday amid fading optimism over a deal to reopen the Strait of Hormuz, as reports said Iran was planning to block US and Israeli ships from the waterway as part of a deal with Oman.Crude prices had begun edging up on Wednesday and rallied as much as four percent on Thursday as the Fars news agency said Iran would look to prevent US and Israeli vessels from using the strait in any deal with Oman.
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