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Oil climbs following renewed US, Iran strikes in Middle East

Recent tensions between the US and Iran have led to an increase in oil prices, primarily due to disruptions in shipping through the Strait of Hormuz, a critical chokepoint for global oil supply. Despite some reports indicating potential de-escalation and renewed diplomatic talks, analysts warn that restoring Gulf oil supply to normal levels may take several months. The situation is further complicated by a helicopter crash, while Saudi Aramco has resumed oil loadings, highlighting the volatility in the region's oil market.